Shares of jewellery companies extended gains on July 17, supported by value buying and firm gold prices even as the broader market stayed subdued, with Senco Gold, Titan, Kalyan Jewellers and Goldiam International among key gainers higher by up to 6 percent in trade.
Analysts said the ongoing rally in jewellery counters was driven by a combination of healthy business updates, optimism around demand during the upcoming wedding and festive season, and steady expansion plans by key players.
Senco Gold shares rose 4.76 percent to an intraday high of Rs 372 apiece on the NSE. The stock has gained nearly 10 percent over the past five sessions.
Kalyan Jewellers jumped 3.27 percent to Rs 609.50, while Titan Company advanced 1 percent to touch a high of Rs 3,448. Shares of Goldiam International climbed over 6 percent to Rs 363.5.
International gold prices too have provided support, with the yellow metal higher by around 26 percent in the first half of 2025, supported by a weaker US dollar, rangebound interest rates and persistent geopolitical uncertainty.
According to a recent World Gold Council (WGC) report, gold is expected to stay rangebound in the second half of 2025, with a possible upside of up to 5 percent from current levels. The report also pointed to global GDP remaining below trend and inflation staying above 5 percent, partly due to rising tariffs.
A potential rate cut by the US Federal Reserve and continued uncertainty could further sustain demand for gold, the report said.
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