Defence stocks experienced a significant rally on December 29, with the Nifty India Defence index rising nearly 1 percent ahead of a Defence Acquisition Council (DAC) meeting. The DAC is expected to consider defense procurement proposals totaling approximately Rs 80,000 crore, potentially including emergency purchases and indigenous systems. Companies like Midhani, Mazagon Dock Shipbuilders, and Bharat Dynamics saw notable gains, while a few others like Paras Defence and Bharat Forge traded lower.