Jewellery Stocks Today: Jewellery stocks came under selling pressure on Friday, with PC Jeweller leading the decline, down up to 4.33%, followed by Kalyan Jewellers, Motisons Jewellers, Senco Gold and Goldiam. The declines come as investors book profits after a recent rally in jewellery stocks, amid broader market weakness.
Kranthi Bathini of WealthMills Securities attributed the pressure partly to profit booking, noting that elevated crude prices and their potential implications for the dollar and precious metals were also weighing on sentiment.
Jewellery Stocks Fall: PC Jeweller Leads Decline
PC Jeweller was the biggest loser among the jewellery stocks in the list, declined 4.33% to Rs 13.23.
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Kalyan Jewellers India dropped 4.27% to Rs 589.30, while Motisons Jewellers fell 2.49% to Rs 15.64. Goldiam International was down 2.16% at Rs 321.05, while Vaibhav Global slipped 2.08% to Rs 211.55.
Other stocks also traded lower. Senco Gold declined 2.69% to Rs 340.60, Sky Gold fell 2.01% to Rs 813.65, and Titan declined 1.32% to Rs 4,943.75.
Tribhovandas Bhimji Zaveri and Thangamayil Jewellery, bucked the trend, as they surged in trade.
Meanwhile, BSE Sensex was trading 0.74% lower at 74,351 levels, as of 10:36 am.
Why Are Jewellery Stocks Falling?
Ajit Mishra, SVP Research at Religare Broking, said the trend in jewellery stocks is mixed and is largely aligned with the broader market correction.
The broader market was under pressure, while crude oil prices remained elevated, adding to concerns around inflation and the outlook for precious metals.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said the pressure on jewellery stocks was also a result of profit-taking after their recent rally.
“Markets are reeling under pressure,” Bathini said, pointing to the Nifty trading well below the 23,300-mark. He added that crude oil at around $110 per barrel could strengthen the dollar in the short to medium term, potentially putting pressure on precious metals such as gold and silver.
According to Bathini, this has contributed to some profit booking in jewellery stocks after their recent rally.
Nuvama On Jewellery Sector: Gold Prices Remain Key Driver
Nuvama Institutional Equities, in its post-Q1FY27 assessment of the jewellery sector, said the industry sustained robust growth momentum, primarily supported by an approximately 60% YoY surge in average gold prices, despite seasonal and macroeconomic headwinds.
The brokerage highlighted factors such as fewer wedding dates, the Adhik Maas period and the customs duty hike to 15% in May 2026 as challenges for the sector.
At the same time, a surge in consumer gold recycling boosted overall retail sales volumes. However, the increasing contribution of lower-margin old gold weighed on overall operating profitability. Higher import duties also muted investor demand for physical gold bars and coins, Nuvama said.
Nuvama Downgrades Titan To Hold
While Nuvama continues to like the jewellery business, it had downgraded Titan to ‘Hold’ following a sharp increase in the stock price.
The brokerage’s view highlights an important distinction for investors: higher gold prices can lift the value of jewellery sales and reported revenue, but sustained price increases can also pressure affordability and volumes. The quality of demand, gold recycling and margins therefore remain critical factors for jewellery companies.
Jewellery Stocks Outlook
For jewellery stocks, the immediate focus is likely to remain on gold-price stability, consumer demand, wedding and festive-season buying, recycling trends and margins.
With several stocks having rallied sharply in recent months, Friday’s decline could partly reflect profit booking rather than a fundamental deterioration in the sector. However, a sustained rise in crude oil and a stronger dollar could become a headwind for gold prices and, consequently, sentiment toward precious-metal and jewellery stocks.
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