Jewellery stocks fell for the second consecutive day on Tuesday, with Thangamayil Jewellery experiencing a significant decline of over 8 percent. This drop follows Prime Minister Narendra Modi’s recent call to postpone gold purchases for one year in an effort to conserve foreign exchange amidst the ongoing crisis in West Asia.
Shares of Thangamayil Jewellery decreased by 8.32 percent, while Senco Gold fell by 6.39 percent, PC Jeweller declined by 6.19 percent, Kalyan Jewellers dropped by 6.10 percent, Sky Gold And Diamonds fell by 5.94 percent, Tribhovandas Bhimji Zaveri decreased by 5.89 percent, and Titan Company saw a decline of 3.60 percent on the Bombay Stock Exchange (BSE).
The jewellery sector faced significant selling pressure on Monday as well, with Kalyan Jewellers plummeting over 9 percent. Amid this widespread sell-off, the 30-stock BSE Sensex dropped by 1,456.04 points, or 1.92 percent, closing at 74,559.24, while the 50-stock NSE Nifty fell by 436.30 points, or 1.83 percent, ending at 23,379.55.
On Sunday, Prime Minister Modi emphasized the need for prudent use of resources, urging for delays in gold purchases and foreign travel, along with other measures to safeguard foreign exchange during this time of crisis in West Asia.
“Sectorally, the damage has been extensive. Consumer durables, jewellery, and travel-related stocks have experienced heavy selling pressure as markets adjust to expectations of reduced discretionary spending and tighter household budgets in the upcoming quarters,” stated Hariprasad K, Research Analyst and Founder of Livelong Wealth.
Published on May 12, 2026
