Dhanteras 2026: Gold jewellery stocks rose as much as 4% in Friday’s trading session as India celebrates Dhanteras 2026, one of the most auspicious occasions for purchasing gold, silver and other precious metals.
Jewellery stocks like Titan, PC Jeweller, Senco Gold, Sky Gold and Diamonds were trading higher on 6 November.
Titan shares surged over3.35% to ₹4996.70 per share, meanwhile, Kalyan Jewellers share price jumped over 4% to ₹581.25. Other jewellery stocks like PC Jeweller, Senco Gold and Sky Gold and Diamonds shares also jumped 2% on Friday.
What’s behind the rally?
The jewellery sector has witnessed renewed investor interest over the past few trading sessions, with gold prices recovering after a sharp correction in recent months. The rebound in precious metal prices, improving retail sentiment and expectations of higher jewellery purchases have supported sentiment towards listed jewellery companies.
Meanwhile, Dhanteras and Diwali are among the most important periods for India’s jewellery industry, as consumers traditionally purchase gold and silver during the festive season.
The ongoing wedding season is another potential demand driver. Investors are expecting jewellery retailers to benefit from higher store footfalls, improved sales volumes and increased purchases of gold coins, bars and ornaments.
“In India, gold is typically not purchased for short-term gains, but as a long-term store of value. This cultural approach is one of the key reasons Indian households collectively hold the world’s largest private gold reserves —valued at over $3 Tn. Moreover, Gold is also a preferred asset for both consumers and businesses due to its high liquidity,” said brokerage firm Axis Direct.
The firm further said that Dhanteras is one of the most auspicious occasions to buy gold, and this year, the yellow metal is trading at a discount of over 22% from its peak of ₹1,80,000, with domestic prices hovering around ₹1,42,000.
Meanwhile, Gaurav Garg, Head – Research, Lemonn, believes that Jewellery stocks are witnessing renewed buying interest ahead of Dhanteras as the recovery in gold prices and expectations of stronger festive and wedding-season demand improve sentiment towards the sector. The recent rebound in bullion prices, following a correction of nearly 12% over the preceding six months, has brought investors’ attention back to organised jewellery retailers.
What should investors do?
Garg recommended investors to remain selective rather than take exposure across the entire jewellery space. Titan continues to benefit from its strong brand positioning and diversified retail ecosystem, while Kalyan Jewellers has growth opportunities through store expansion and its established presence in the organised market.
He further added that Senco Gold also offers exposure to the organised retail opportunity, although investors should closely track its margins and working-capital requirements. Jewellery manufacturers such as Sky Gold and Shanti Gold may benefit from increasing outsourcing by organised retailers, but their business models carry different execution and margin risks compared with established consumer brands.
“My recommendation is to HOLD quality jewellery stocks for investors with an existing position, while fresh investors should avoid chasing the recent rally and consider staggered entry after the festive-season sales performance becomes clearer. The key indicators to monitor are same-store sales growth, jewellery volume growth, studded-product contribution, operating margins and inventory management. Ultimately, companies that demonstrate genuine market-share gains and consistent earnings growth will be better positioned to sustain their valuations beyond the temporary festive-season sentiment,” he said.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
