Share Market News: Manoj Vaibhav Gems N Jewellers Sees Major Gains Amid Bullish Trends

Significant Gains in Manoj Vaibhav Gems N Jewellers Shares

On September 23, share market news revealed that shares of Manoj Vaibhav Gems N Jewellers surged amid a bullish atmosphere. The stock opened at Rs 281.30, surpassing the previous close of Rs 281.05 on the BSE, and climbed approximately 7.5% to touch an intra-day high of Rs 301.45.

Market Context and Precious Metals Impact

This surge is in alignment with domestic equity indices, including Sensex and Nifty, reaching record high levels early in the trading session. Recently, the counter was trading at Rs 287.25, showing promising buoyancy given the stock’s 52-week high of Rs 382.20 and a low of Rs 170.

• Gold prices witnessed a significant jump, rallying by Rs 700 to Rs 76350 per 10 grams in the national capital.
• Silver prices remained stable at Rs 91000 per kilogram, contrasting with gold’s upward trend.
• In August, India’s gold imports soared to a record high of USD 10.06 billion, significantly driven by festival demand.

Future Trends and Market Outlook

Looking ahead, the trend in precious metal prices may continue as demand from jewellers increases due to the approaching festival and wedding seasons. Gold contracts for October delivery have also shown resilience, reaching Rs 73779 per 10 grams, while silver contracts for December gained Rs 90113 per kg.

Overall, the uptick in share prices represents a broader optimism in the market, positioning Manoj Vaibhav Gems N Jewellers as a noteworthy player in current share market dynamics.