Jewellery stocks came under sharp selling pressure on Wednesday, 13 May, after the government raised customs duties on gold and silver to 15% from 6%, a move expected to dampen demand and weigh on sector margins.

Shares of key players such as Kalyan Jewellers India Ltd, PC Jeweller Ltd, P N Gadgil Jewellers, Senco Gold, Thangamayil Jewellery, and Titan Company declined up to 6%, reflecting concerns over higher input costs and potential demand slowdown.