Jewellery stocks were trading mixed on Tuesday, November 3, with Thangamayil Jewellery and Kalyan Jewellers leading gains as the industry enters the key festive and wedding season. Investors are keeping an eye on consumer demand, store footfalls, and jewellery purchases as customers prepare for Dhanteras and Diwali.
Thangamayil Jewellery shares rose 1.74% to Rs 4,595.20 apiece on the NSE, while Kalyan Jewellers gained 1.57% to Rs 513.40. Senco Gold was also trading higher, up 1.17% at Rs 302.35 at around 12:20 p.m. today.
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Gold Prices, Festive Season Demand In Focus
Gold prices have corrected from their recent highs, offering some relief to jewellery buyers. The yellow metal declined to a 1-month low on Friday, Oct. 30.
The correction has brought customers back to jewellery stores ahead of Dhanteras, which is on Nov. 6.
The World Gold Council said seasonal demand was gaining traction, with retailers reporting improving store footfalls and healthy order flows. However, elevated gold prices could continue to limit volume growth.
The December quarter is also expected to benefit from the wedding season and festive purchases. However, high gold prices and their impact on affordability remain key factors for the jewellery industry.
How Jewellery Stocks Are Trading Today
Among other jewellery stocks, Sky Gold and Diamonds was trading at Rs 874, up 0.45% on the NSE. Senco Gold shares were up 1.17% at Rs 302.35.
On the other hand, Tribhovandas Bhimji Zaveri shares declined 2.14% to Rs 584, making it the biggest laggard among the stocks tracked. PC Jeweller was also trading lower, down around 1.27% to Rs 14.74 at around 12:41 p.m.
Here is how the stocks were performing on the NSE:
Company | Share price (Rs) | Change |
Thangamayil Jewellery | 4,595.20 | +1.74% |
Kalyan Jewellers | 513.40 | +1.57% |
Senco Gold | 302.35 | +1.17% |
Sky Gold and Diamonds | 874.00 | +0.45% |
PC Jeweller | 14.74 | -1.27% |
Tribhovandas Bhimji Zaveri | 584.00 | -2.14% |
Also read: Stocks Reacting To Q2 Results: Trident Skyrockets 11%, Marico 8%; KEC International Plunges 7%
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