Jewellery and real estate stocks experienced a sharp decline after Prime Minister Modi urged financial restraint, advising citizens to postpone gold purchases and reduce discretionary travel. The comments, aimed at curbing fuel consumption amid geopolitical uncertainty and high energy costs, triggered an immediate market reaction in sectors tied to household spending.
Wall Street warms to India’s markets as oil pressures fade
India had fallen out of favor as investors chased markets with greater exposure to the artificial intelligence boom, while the energy shock triggered by the
July 7, 2026