Akshaya Tritiya: From Sky Gold To Senco, Jewellery Stocks Lose Shine

Akshaya Tritiya, traditionally associated with gold purchases and considered auspicious for wealth acquisition, has not consistently translated into positive stock market performance for many listed jewellery firms.

In particular, Kalyan Jewellers Ltd., Sky Gold Ltd., Senco Gold Ltd. and PC Jeweller Ltd. have seen mixed to negative returns over the past decade on this festive trading day.

Kalyan Jewellers, despite being one of the most recognised names in Indian jewellery retail, has seen volatility around this festival. In 2021, it fell 3.45% and saw a marginal decline of 1.31% on Wednesday, though it had managed a notable 5.75% gain in 2024.

Senco Gold, which listed last year, also reflected similar inconsistency — dropping 1.31% in 2024 and 3.57% on Wednesday.

Sky Gold fared worse, slipping 5% in 2024 and 2.56% on Wednesday, suggesting investor caution or profit-taking around the festival period.

PC Jeweller, which has struggled with broader operational challenges, posted a positive return of 1.94% in 2024 but slipped 3.23% on Wednesday's session. Overall, the past five years have not offered sustained festive momentum for these stocks, with public holidays in 2022 and 2023 also limiting market-based performance assessment.

Thangamayil Jewellery Ltd. has posted only gains in the last five years. While in 2021 it saw gains of nearly 3%, in 2024 and 2025 it, posted gains of 2.71% and 5.42% respectively.

Amid the broader underperformance, Titan has emerged as a relative outperformer in the jewellery segment. Over the last five Akshaya Tritiya trading sessions, Titan has managed to remain mostly stable or post modest gains, even when peers faltered. It gained 1.86% in 2024 and 1.57% in 2021, while limiting its loss to just 0.54% this year — far better than most competitors.

While consumer demand may remain robust during Akshaya Tritiya, stock performance has not mirrored this optimism — likely a result of investor focus on fundamentals, competitive pressures, and broader market dynamics that overshadow seasonal sentiment.