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Jewellery stocks tank up to 9% on PM Modi's remark
Gold jewellery stocks plummeted after Prime Minister Modi urged citizens to avoid gold purchases for a year to conserve foreign exchange. While this impacted investor sentiment and the near-term outlook, analysts believe underlying consumption trends, especially for weddings and organized players, remain strong for the long term.
Gold jewellery stocks plummeted after Prime Minister Modi urged citizens to avoid gold purchases for a year to conserve foreign exchange. While this impacted investor sentiment and the near-term outlook, analysts believe underlying consumption trends, especially for weddings and organized players, remain strong for the long term.
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