Jewellery shares gain on festive demand

Shares in jewellery companies, including Gitanjali Gems extended gains for the second day on hopes of a spike in jewellery sales ahead of the festive season in India, several dealers said.

Consumer spending appetite traditionally increases during the Dussehra festival on October 24 and the Diwali festival in mid-November, which are considered auspicious times to buy big-ticket items.

India's largest jewellery retailer Gitanjali Gems jumped 5.13 per cent, adding to its Thursday's 1.82 per cent rally.

Shree Ganesh Jewellery gained 5.9 per cent while jewellery maker and retailer Tribhovandas Bhimji Zaveri Ltd jumped 9 per cent.



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