Jewellery stocks crater 3-4.5% as Modi urges Indians to curb gold buys, foreign travel amid oil spike
Titan, Senco Gold and Kalyan Jewellers fell 3-4.5% while IndiGo dropped 3.2% after PM Modi's appeal to rein in gold purchases and overseas trips. Backdrop: oil up 4.33% to $105.6/bbl on stalled US-Iran talks, rupee at 94.90/USD, Nifty -0.85%, Sensex -0.89%.
Indian markets slumped 0.85% as oil spiked 4.33% on stalled US-Iran talks. Jewellery stocks Titan, Senco, Kalyan fell 3-4.5% and IndiGo dropped 3.2% after PM Modi urged citizens to curb gold buying and foreign travel.