Budget 2025, Feb. 1 -- Jewellery stocks defied the broader market weakness on February 1, rallying after Finance Minister Nirmala Sitharaman announced a reduction in customs duty on jewellery in the Union Budget 2025. Additionally, the new tax regime offers income tax relief for individuals earning up to Rs.12 lakh, which is expected to boost household consumption, savings, and investment. This policy change has reinforced confidence in the jewellery sector, supporting stock prices despite the market downturn.

The Finance Minister announced a customs tariff reduction for articles of jewellery and parts from 25 percent to 20 percent, effective February 2, 2025. Additionally, the duty on platinum findings has been slashed from 25 percent t...