Jewellery stocks end mixed

Jewellery stocks ended mixed today even as the GST Council decided to reduce rates for jewellery making charges to 5 per cent from 18 per cent earlier.
Shares of Tribhovandas Bhimji Zaveri gained 1.90 per cent and Gitanjali Gems rose by 1.92 per cent on BSE.
On the other hand, Thangamayil Jewellery dipped 3.34 per cent, Titan Company lost 1.53 per cent and PC Jeweller lost 0.37 per cent. These stocks witnessed positive opening but failed to hold on the momentum and slipped in the negative zone at close of trade.
The tax rate on job workers in diamond processing and jewellery has been decided at 5 per cent, as against the normal 18 per cent GST rate for services.

The GST Council met for the 16th time yesterday.
In the broader market, the BSE Sensex ended at 31,095.70, down 166.36 points.