Possibility and probability favour them in war and peace: 10 large-cap stocks from 2 sectors with upside potential of up to 28%

Probability theory is important in the stock market. Reason: Stock prices are a function of many factors and the underlying operating matrices of those factors themselves keep changing. Currently, the Gulf war is the biggest factor impacting global markets. Some sectors will be hit more as they are linked to oil and the Gulf region. But there are others that will see little impact on their operations or supply chains. Now, when tensions spike and the Nifty trades with big cuts, panic is natural. But history tells us that the worst time to make portfolio decisions is when fear is at its peak. A better approach is to be surgical: Identify sectors where demand is structurally immune to conflict cycles, and where long-term capital continues to flow regardless of headlines.