New Delhi, May 1 -- There is a popular stock market adage - Sell in May and Go Away - suggesting investors sell stocks in May and re-enter in September to avoid historically weaker market performance during the summer.

While cited often, analysis shows that this saying often doesn't hold, at least not for the Indian stock market, as May has historically been a positive month for Dalal Street.

Data from Trendlyne shows that the Nifty 50 index has risen in six of the last 10 years during May. But this time, the index might break away from the trend as the ongoing US-Iran war, which has entered its third month, remains a key overhang.

Oil prices have increased sharply due to the disruption to the Strait of Hormuz, a critical chokepoint ac...