Jewellery stocks experienced significant declines on Thursday, with multiple companies posting substantial losses. According to market reports, Kalyan Jewellers emerged as the biggest loser, falling over 5%, while PC Jeweller and Sky Gold also declined more than 3%. The selling pressure extended to other jewellery companies including Thangamayil Jewellery, Senco Gold, and others, as reported by market sources. As per NDTV Profit, around 2:15 p.m., Kalyan Jewellers was trading at ₹524.20, declining around 5.23% from its previous close of ₹553.15. Thangamayil Jewellery declined 4.58% to ₹4,830, while PC Jeweller fell 3.94% to ₹12.68.
The decline in jewellery stocks occurred amid broader market weakness, with the Nifty 50 down by 1.5% and trading around the 22,289 level. As reported by market sources, the BSE Sensex dipped more than 1.2% to trade below the 72,000 level, indicating widespread selling pressure across equity markets. The jewellery sector's performance contrasted with the overall market trend, suggesting sector-specific factors may be driving the decline. According to NDTV Profit, the broader equity market witnessed heavy selling, with investors tracking how elevated precious-metal prices could affect jewellery demand, particularly as the festive and wedding season approaches.
Despite the stock market decline, gold and silver prices were trading higher in the domestic futures market during early trade, according to market reports. This price movement in precious metals contrasted sharply with the performance of jewellery stocks, suggesting that market sentiment toward the sector may be influenced by factors beyond commodity price movements. As per NDTV Profit, MCX gold futures were trading around the ₹1.50 lakh mark in early trade, while silver futures were also higher. The divergence between precious metal prices and jewellery stock performance highlights the complexity of sector-specific dynamics in the current market environment.
The selling pressure extended beyond major players to include other jewellery companies. Sky Gold and Diamonds were down 3.61% to ₹781.40, after touching a low of ₹776.50. Among other jewellery stocks, Lalithaa Jewellery Mart declined 2.85% to ₹371, while BlueStone Jewellery and Lifestyle fell 2.37% to ₹776. Senco Gold was down 2.23% at ₹313.80, with the stock touching an intraday low of ₹311.55. The fall in jewellery stocks comes despite strength in bullion prices, with gold and silver remaining volatile after a sharp correction in September.
