Jewellery stocks were trading mixed on Tuesday, with gold prices staying volatile after an early dip and investors watching for stronger demand ahead of the festive season. The broader market was also trading higher, supporting gains in some jewellery stocks.
Sky Gold and Diamonds emerged as one of the top gainers among the popular jewellery stocks, while P N Gadgil Jewellers, BlueStone Jewellery and Lifestyle, and Lalithaa Jewellery Mart also traded higher. In contrast, Tribhovandas Bhimji Zaveri, or TBZ, and PC Jeweller were in the red.
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Jewellery Stocks: Sky Gold, PN Gadgil Gain
At around 2:32 p.m., shares of Sky Gold and Diamonds were trading around Rs 854.85, up about 3.5% compared to its previous close of Rs 825.90. The stock touched a high of Rs 877 earlier during the session as well.
P N Gadgil Jewellers shares gained 2.56% to Rs 588 apiece on the NSE on Tuesday closing, rising from the previous close of Rs 573.30. The stock opened at Rs 573.65 and climbed to an intraday high of Rs 590.05 around 11:30 am.
BlueStone Jewellery and Lifestyle was also up around 2.9% at Rs 813.6, compared with its previous close of Rs 790.65.
Lalithaa Jewellery Mart gained 2.7% to trade at Rs 403.25 against the previous close at Rs 392.6. The stock opened at Rs 395.80 and touched a high of Rs 405 earlier in the session.
Senco Gold was also trading in green with marginal gains of around 0.7%.
TBZ, PC Jeweller Traded Lower on Tuesday
Shares of Tribhovandas Bhimji Zaveri gained upto 3% at closing after dipping 5% earlier in trade today. However, the stock rebounded and is currently trading at Rs 612 apiece on the NSE, which is close to its previous close at Rs 597.9.
PC Jeweller shares were also down over 1.15% during the session and were trading at Rs 12.98 apiece on the NSE, compared to the previous close at Rs 13.06.
Gold prices have remained volatile after the early-session decline, while the upcoming festive season could support jewellery demand. With the broader market also trading positive, investors are watching how jewellery stocks respond to movements in gold prices and expectations of festive buying.
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