Kalyan Jewellers India Ltd Sees Robust Trading Activity Amid Sector Outperformance

Intraday Trading Highlights and Price Action

On 9 February 2026, Kalyan Jewellers (symbol: KALYANKJIL) recorded a total traded volume of 1.44 crore shares, translating into a staggering traded value of ₹595.18 crores. The stock opened sharply higher at ₹405, marking a 6.51% gap-up from the previous close of ₹380.25. It subsequently touched an intraday high of ₹424.70, representing a near 10% gain from the prior day’s close, before settling at ₹420.20 as of 09:45 IST. This intraday surge outperformed the Diamond & Gold Jewellery sector’s gain of 2.05% and the Sensex’s modest 0.40% rise.

The weighted average price indicated that a significant volume was traded closer to the day’s low of ₹395.20, suggesting some profit booking at higher levels but sustained buying interest overall. The stock’s price currently trades above its 5-day and 20-day moving averages, signalling short-term bullish momentum, although it remains below the longer-term 50-day, 100-day, and 200-day averages, indicating room for further technical consolidation.

Institutional Interest and Market Sentiment

Institutional participation remains a key driver behind Kalyan Jewellers’ recent price action. Despite a 22.83% decline in delivery volume on 6 February compared to the 5-day average, the stock’s liquidity remains robust, with an average traded value sufficient to support trade sizes of approximately ₹3.88 crores. This level of liquidity is attractive for large institutional investors seeking meaningful exposure without significant market impact.

The stock has recorded gains for two consecutive sessions, delivering an 11.19% return over this period. This outperformance relative to the sector and benchmark indices reflects growing investor optimism, possibly driven by expectations of improved earnings and favourable market conditions for the gems and jewellery industry.

Mojo Score Upgrade and Market Capitalisation Context

Kalyan Jewellers’ recent upgrade in its Mojo Grade from ‘Sell’ to ‘Hold’ on 19 January 2026 reflects a cautious but positive reassessment of the company’s fundamentals. The current Mojo Score stands at 53.0, indicating a moderate outlook with potential for further improvement. The Market Cap Grade remains at 2, categorising the company as a mid-cap stock with a market capitalisation of approximately ₹43,449.28 crores.

This upgrade aligns with the stock’s recent price momentum and improved trading volumes, suggesting that analysts and investors are beginning to factor in a more favourable earnings trajectory and sectoral tailwinds. However, the ‘Hold’ rating also signals that investors should remain vigilant for volatility and monitor upcoming quarterly results closely.

Sectoral Performance and Comparative Analysis

The gems, jewellery and watches sector has witnessed a steady recovery, with the Diamond & Gold Jewellery segment gaining 2.05% on the day. Kalyan Jewellers’ outperformance by over 8% relative to its sector peers highlights its leadership position and investor preference amid a competitive landscape.

Comparatively, the stock’s 1-day return of 10.65% significantly outstrips the sector’s 1.74% and the Sensex’s 0.40%, underscoring its appeal as a high-conviction trade. This divergence may be attributed to company-specific factors such as strategic expansion plans, improved operational efficiencies, or positive market sentiment driven by festive demand and gold price stability.

Technical and Liquidity Considerations

From a technical perspective, Kalyan Jewellers’ price action suggests a short-term bullish trend, supported by gains above the 5-day and 20-day moving averages. However, the stock remains below its longer-term moving averages, which could act as resistance levels in the near term. Investors should watch for a sustained breakout above these averages to confirm a more durable uptrend.

Liquidity metrics indicate that the stock is sufficiently liquid to accommodate sizeable trades, with daily traded values comfortably exceeding ₹50 crores. This liquidity is crucial for institutional investors and large traders seeking to enter or exit positions without excessive price impact.

Outlook and Investor Takeaways

While Kalyan Jewellers has demonstrated impressive trading activity and price appreciation in recent sessions, investors should weigh the stock’s current valuation against its growth prospects and sector dynamics. The upgrade to a ‘Hold’ rating suggests that while the stock is no longer a sell, it may not yet warrant a strong buy recommendation until further clarity emerges from earnings and market conditions.

Investors should also monitor gold price trends, consumer demand patterns, and competitive pressures within the gems and jewellery sector, as these factors will materially influence Kalyan Jewellers’ performance going forward. The company’s ability to sustain volume growth and manage costs will be critical in maintaining its market position.

In summary, Kalyan Jewellers India Ltd stands out as a high-value trading stock with significant institutional interest and robust liquidity. Its recent price momentum and upgraded Mojo Grade reflect improving fundamentals, but investors should remain prudent and consider peer comparisons and sector outlooks before making allocation decisions.

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