PM Modi’s Gold Appeal Triggers Sharp Selloff In Titan, Kalyan Jewellers & Senco Stocks

Gold jewellery stocks witnessed a sharp selloff after Prime Minister Narendra Modi urged citizens to reduce gold purchases amid rising import pressure and global uncertainty. Titan, Kalyan Jewellers and Senco Gold fell sharply, with some stocks tumbling nearly 10% during the session. The concern comes as India’s gold import bill surged to a record $72 billion in FY26, making gold one of the fastest-growing import categories and increasing pressure on India’s external account. Market experts now fear possible government measures to curb gold imports, which could impact demand, inventory valuations and even gold financing companies like Muthoot Finance and Manappuram. Investors are also worried about a potential correction in global gold prices. Watch this reel for the complete market impact and expert analysis.