Jewellery Stocks Soar 4% as Budget 2026 Skips Gold Excise Duty Hike

• Titan and Kalyan Jewellers shares surged up to 4% after the Union Budget 2026 did not increase customs duty on gold.
• The basic customs duty on gold was previously reduced from 15% to 6% in the July 2024 Budget to curb smuggling and improve affordability.
• Finance Minister Nirmala Sitharaman presented her ninth consecutive Union Budget, with investors closely monitoring policies affecting precious metals.
• A higher customs duty would have negatively impacted jewellery companies by denting demand and disrupting pricing, though effects often reverse quickly.
• Industry stakeholders advocate for rationalization of import duties on raw materials like gold, silver, and platinum to boost competitiveness and exports.

Why It Matters: Jewellery stocks gained as Budget 2026 maintained gold import duties, easing industry concerns.