Gems and jewellery stocks sparkle on India-U.S. trade deal

India-U.S. Trade Deal Boosts Gems and Jewellery Stocks

Gems and jewellery stocks witnessed a significant surge on Tuesday (February 3, 2026) following the announcement of a trade deal between India and the U.S.

Key Highlights:

• Goldiam International skyrocketed 20%
• Vaibhav Global zoomed 20%
• Kalyan Jewellers India jumped 7.61%
• Senco Gold edged higher by 7.41%

Other Notable Gainers:

• Shringar House of Mangalsutra jumped 6.61%
• P.N. Gadgil Jewellers advanced 6.25%
• P.C. Jeweller surged 5%
• Titan climbed 4.6%

Market Overview:

The BSE benchmark traded 2,390.71 points or 2.94% higher at 84,065.17, while the NSE Nifty quoted 707 points or 2.8% up at 25,794.30.

Expert Analysis:

"The agreement reduces reciprocal U.S. tariffs on Indian goods from 25% to 18%, removing a major overhang that had weighed on export-oriented sectors, manufacturing, and overall market sentiment in recent months," said R. Ponmudi, CEO of Enrich Money.

Background:

India and the U.S. have agreed to a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18% from the current 25%, according to U.S. President Donald Trump.

Significance:

The announcement assumes significance as several labour-intensive sectors like textiles, apparel, leather, and marine were facing challenges to export goods to the U.S. due to the 50% tariffs.