Nifty 50 during Kargil War

General
1

I was able to chart how Nifty 50 performed during the Kargil War.
Was expecting a fall but surprised to see a 31% increase during the period.

image

I know that Nifty futures wasn’t launched until 2000s so shorting wasn’t easily possible.
Are there any other factors that I’m missing?

I guess you guys were around in the markets when this happened. How was the experience during this passage of time.
@nithin @Karthik @hanan

2

Even if its true, that’s a destructive eventuality to hope for. Unfortunately, this is the tragedy of Indian markets - it pretty much run on the same template every year.