| War Details | Period | Correction in Nifty 50 | 1Y Recovery in Nifty 50 |
| Gulf | Aug-90 | -28.50% | 118.10% |
| Afghanistan | Oct-01 | -21.80% | +25.1%* |
| Iraq | Mar-03 | -14.50% | 92.30% |
| Crimean | Feb-14 | -3.20% | 44.70% |
| Russia-Ukraine | Feb-22 | -9.20% | 21.60% |
| Israel – Hamas | Oct-23 | -3.90% | +__ ? |
*Recovery period is 6 months
Equity markets have weathered a multitude of storms in the past and will do so in the future
Gulf War
- War Period: August 1990
- Context: The Gulf War was an armed conflict between Iraq and a 42-country coalition led by the United States
Afghanistan War
- War Period: October 2001
- Context: The Afghan War, initiated in 2001, primarily aimed to dismantle al-Qaeda and remove the Taliban regime in Afghanistan following the 9/11 terrorist attacks in the United States.
Iraq War
- War Period: March 2003
- Context: The Iraq War in 2003 was launched with the primary objective of eliminating perceived weapons of mass destruction (WMDs) and toppling Saddam Hussein’s regime, amid concerns of his government’s alleged support for terrorism
Crimean War
- War Period: February 2014
- Context: The Crimean Crisis in February 2014 involved the annexation of Crimea, a region in Ukraine, by Russia. It was triggered by political unrest and Ukraine’s ousting of its pro-Russian president
Russia-Ukraine War
- War Period: February 2022
- Context: On 24 February 2022, Russia invaded Ukraine in an escalation of the Russo-Ukrainian War that started in 2014. The invasion was the biggest attack on a European country since World War II.
Israel-Hamas War
- War Period: October 2023
- Context: Hamas militants launched an unprecedented cross-border attack on Israel. In a highly organized stealth assault, they bulldozed the border fence in multiple places, caught Israel’s security apparatus off-guard and overtook overwhelmed military defenses.
