Duty hike to 15% batters jewellery stocks; Kalyan -6%, Sky Gold -11% as MSCI exit deepens pain
India's gold/silver import duty jump from 6% to 15% (platinum 15.4%) triggered a third straight selloff across listed jewellers. Kalyan Jewellers slid 6% and faces MSCI Global Standard Index exclusion on May 29; Sky Gold -11%, Senco -4.3%, PC Jeweller -3.65%, Titan -1.64%. Gold/silver futures spiked 7-8%, squeezing demand outlook.
Indian government hiked gold/silver import duties to 15% and platinum to 15.4%, sending jewellery stocks down for third day; Kalyan Jewellers fell 6% and was excluded from MSCI Global Standard Index effective May 29, 2026.