Jewellery Stocks Crash: The Indian stock market witnessed a “gold rush” of a different kind on Monday as major jewellery stocks plummeted following Prime Minister Narendra Modi’s strategic appeal to the nation. In a move to safeguard the country’s economy against the escalating Middle East crisis, PM Modi urged citizens to defer gold purchases for the next year to conserve vital foreign exchange. This direct call to action sent shockwaves through the bourses, with industry giants like Titan and Kalyan Jewellers crashing in early trade. The central theme of the market’s reaction highlights a sudden shift in investor sentiment, as the government prioritizes currency stability and a reduction in the import bill over discretionary luxury spending.
Kalyan Jewellers Share Price
The bearish sentiment in the gems and jewellery sector continued to impact major players, with Kalyan Jewellers India Limited (NSE: KALYANKJIL) seeing a sharp decline in Monday’s trade. As the market processed Prime Minister Narendra Modi’s recent appeal to reduce gold consumption to save foreign exchange, investors offloaded shares of prominent retail jewellery chains, fearing a substantial slowdown in domestic demand.
Today’s Stock Performance Snapshot (As of 11:09 AM IST): The intraday data reveals that the stock faced immediate and intense pressure from the opening bell, dropping significantly from its previous close of Rs 424.55
- Current Market Price: Rs 390.70
- Total Loss Today: -Rs 33.85
- Percentage Decline: -7.97%
- Date: 11 May 2026
Titan Company Shares
Market heavyweight Titan Company Ltd (NSE: TITAN) faced a sharp decline in Monday’s trading session. Following a sector-wide sell-off triggered by Prime Minister Narendra Modi’s appeal to postpone gold purchases, Titan’s stock price plummeted, losing a significant portion of its market value within the first few hours of trade.
Today’s Stock Performance Snapshot (As of 11:09 AM IST): The stock, which was trading near the Rs 4,500 mark recently, saw an aggressive downward trend as shown in the intraday chart. This 6.35% drop reflects investor anxiety over the potential impact on Titan’s jewellery division, which contributes a lion’s share to the company’s total revenue.
- Current Market Price: Rs 4,222.70
- Total Loss Today: -Rs 286.30
- Percentage Decline: -6.35%
- Date: 11 May 2026
P N Gadgil Jewellers Ltd
The wave of selling in the jewellery sector extended to P N Gadgil Jewellers Ltd (NSE: PNGJL) on Monday morning. Following the national appeal by Prime Minister Narendra Modi to minimize gold consumption for a year, PNGJL shares witnessed a sharp vertical drop, reflecting the broader market’s concern over a potential slowdown in the retail jewellery industry.
Today’s Stock Performance Snapshot (As of 11:09 AM IST): The intraday chart for PNGJL reveals a significant gap down from its previous closing price of Rs 727.90.
- Current Market Price: Rs 673.80
- Total Loss Today: -Rs 54.10
- Percentage Decline: -7.43%
- Date: 11 May 2026
Shringar House of Mangalsutra
The specialized jewellery segment also felt the tremor on Monday as shares of Shringar House of Mangalsutra Ltd (NSE: SHRINGARMS) fell sharply. In the wake of the government’s push to curb gold imports to stabilize the economy, investors turned cautious on niche jewellery players, leading to a significant intraday drop for the company.
Today’s Stock Performance Snapshot (As of 11:09 AM IST): The trading chart indicates that the stock opened with a sharp decline.
- Current Market Price: Rs 212.36
- Total Loss Today: -₹Rs 13.14
- Percentage Decline: -5.83%
- Date: 11 May 2026
D P Abhushan Shares
The bearish sentiment in the gems and jewellery sector continued to impact regional players, with D P Abhushan Ltd (NSE: DPABHUSHAN) seeing a notable decline in Monday’s trade. As the market processed Prime Minister Narendra Modi’s recent appeal to reduce gold consumption, investors offloaded shares of retail jewellery chains, fearing a slowdown in domestic demand.
Today’s Stock Performance Snapshot (As of 11:09 AM IST): The intraday data reveals that the stock faced immediate pressure from the opening bell, dropping from its previous close of Rs 1,105.60.
- Current Market Price: Rs 1,057.70
- Total Loss Today: -Rs 47.90
- Percentage Decline: -4.33%
- Date: 11 May 2026
Thangamayil Jewellery
The southern jewellery powerhouse Thangamayil Jewellery Ltd (NSE: THANGAMAYL) saw its shares weaken in Monday’s session, caught in the broader sell-off across the gems and jewellery industry. Following the Prime Minister’s national call to reduce gold imports to preserve foreign exchange, investors trimmed their positions in the Madurai-headquartered retailer.
Today’s Stock Performance Snapshot (As of 11:09 AM IST): The intraday chart for THANGAMAYL shows a volatile start to the day. The stock witnessed a sharp vertical drop in the opening hour, followed by a slight attempt at recovery, yet remaining deep in the red.
- Current Market Price: Rs 4,079.20
- Total Loss Today: -Rs 167.50
- Percentage Decline: -3.94%
- Date: 11 May 2026
These Big Jewellery Company shares also declined
- Sky Gold and Diamonds Ltd: Witnessed the sharpest decline in the sector, plummeting 9.4% to an LTP of Rs 490.40.
- Senco Gold Ltd: Faced intense selling pressure, dropping 8.7% with an LTP of Rs 333.50.
- Tribhovandas Bhimji Zaveri Ltd (TBZ): Dropped significantly by 6.0% to Rs 144.75.
- Goldiam International Ltd: Decreased by 5.3%, with an LTP of Rs 413.00.
- Bluestone Jewellery And Lifestyle Ltd: Slumped 4.9% to reach Rs 479.15.
- Khazanchi Jewellers Ltd: Saw a dip of 4.1%, trading at Rs 640.00.
- Motisons Jewellers Ltd: Down by 3.6%, currently at Rs 12.80.
- Rajesh Exports Ltd & Shanti Gold Intl: Both saw a decline of 3.4% in today’s trade.
- PC Jeweller Ltd: Fell by 3.2%, with the price standing at Rs 9.20.
- Vaibhav Global Ltd: Witnessed a moderate decline of 2.2% to Rs 230.00.
- Renaissance Global Ltd: Down by 1.7%, trading at Rs 111.90.
- Asian Star Company Ltd: Notably the only stock in the green within this list, gaining 1.2% to reach an LTP of Rs 672.00.
FAQ’s
1. Why did jewellery stocks fall sharply on 11 May 2026?
Jewellery stocks declined after Prime Minister Narendra Modi appealed to citizens to postpone gold purchases for the next year. The government aims to reduce gold imports, conserve foreign exchange reserves, and ease pressure on the Indian economy amid rising crude oil prices and geopolitical tensions in West Asia. Investors feared this could slow jewellery demand and impact company revenues.
2. Which jewellery companies witnessed the biggest decline in today’s trade?
Several major jewellery stocks saw heavy losses during Monday’s session. Sky Gold and Diamonds recorded the steepest fall of 9.4%, while Senco Gold dropped 8.7%. Kalyan Jewellers fell nearly 8%, PNGJL declined over 7%, and Titan Company lost more than 6% during intraday trading.
3. How did Titan Company shares react to the market sell-off?
Titan Company shares witnessed strong selling pressure after the government’s appeal to reduce gold consumption. The stock fell 6.35% to Rs 4,222.70, losing Rs 286.30 in early trade. Investors remain concerned because Titan’s jewellery business contributes a major portion of the company’s total revenue.
4. Why is the government discouraging gold purchases during the current crisis?
India imports large quantities of both crude oil and gold, and both are paid for in US dollars. With crude oil prices rising sharply due to Middle East tensions, high gold imports could further increase dollar outflows, widen the current account deficit, and weaken the rupee. The government is therefore encouraging lower discretionary imports.
5. Were all jewellery stocks in the red today?
Almost the entire jewellery sector traded lower on Monday due to panic selling and weak investor sentiment. However, Asian Star Company Ltd stood out as the only stock in the green among major jewellery counters, gaining around 1.2% during the session while most peers remained under heavy pressure.
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