New Delhi, Feb. 1 -- Jewellery stocks saw a strong uptick in today's trade on February 1, with shares of Kalyan Jewellers, PC Jeweller, and Rajesh Exports gaining momentum ahead of Finance Minister Nirmala Sitharaman's Union Budget speech.

The demand for jewellery has strengthened after the gold import duty cut in the Union Budget 2024. Therefore, in the first full budget of NDA 3.0, the jewellery industry expects policy continuity to boost consumer demand for jewellery.

India's gold demand has been on a remarkable upward trajectory in recent years, further boosted by the customs duty cut and heightened festive buying, as well as the central bank's continued gold purchases.

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