www.ibtimes.co.in ·
titan kalyan jewellers plunge 12 pc after pm modis appeal gold slips amid rising west asia 901942
The full article is on the original publisher site. This page only shows the headline and a very short excerpt.
AI insight
AI-generatedGold price decline driven by PM Modi's appeal to reduce gold imports to support rupee, triggering selloff in Indian jewellery stocks. Channel: regulatory/moral suasion affecting demand; fx_passthrough via rupee depreciation. Impact is India-specific, affecting gold demand and jewellery retailers' revenue/margins.
Signals our AI researcher identified
Extracted by our AI model from this article and related public sources — not direct quotes from the publisher.
- Gold futures dropped to intraday low of Rs 1,51,892 per 10 grams on May 11, 2026.
- PM Modi urged citizens to avoid non-essential gold purchases to conserve foreign exchange reserves.
- Titan Company shares fell over 8%, Kalyan Jewellers over 10%, Senco Gold 11%.
- Indian rupee weakened by 139 paise to 94.90 against USD.
- Sensex and Nifty down more than 1%.
Indian jewellery stocks are likely to face an additional 3-5% decline in 48h due to demand fears.
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Sector impact at a glance
- COMMODITY_GOLDmid
- COMMODITY_GOLDshort
- EM_RETAILmid
- EM_RETAILshort
- FX_USDmid
- FX_USDshort