business π Jewellery stocks swing wildly amid gold price hike
Jewellery stocks showed mixed trading action on Thursday, with Kalyan Jewellers seeing a gain while PC Jeweller, Sky Gold, and Senco Gold experienced drops. Kalyan Jewellers shares climbed up to 2.01% to hit an intraday high of Rs 622.60 per share. This movement is happening as 24K gold prices in India rose by Rs 600, reaching Rs 1,60,000 per 10 grams. Analysts note the sector's growth is supported by gold price surges despite challenges like duty hikes. Future demand is expected to remain strong, especially during the festive season.