India, May 11 -- Shares of major jewellery companies witnessed sharp declines on Monday after Prime Minister Narendra Modi urged citizens to postpone gold purchases and avoid non-essential foreign travel for one year to help conserve foreign exchange amid the ongoing West Asia crisis.

The appeal triggered heavy selling across jewellery and bullion-related stocks, with investors fearing a potential slowdown in discretionary spending and gold demand.

Sky Gold And Diamonds Ltd plunged 12.24 per cent, while Senco Gold Ltd dropped 11 per cent on the BSE. Kalyan Jewellers fell 9.99 per cent, Thangamayil Jewellery declined 9.79 per cent and Titan Company slipped 8 per cent. Shares of Tribhovandas Bhimji Zaveri Ltd and PC Jeweller Ltd also drop...