New Delhi, Oct. 28 -- Shares of PC Jeweller Limited, ended 5.05% lower on Wednesday, October 28, as the jewellery stock extended its loss for the fifth consecutive trading session. With this, the penny stock has declined nearly 14% over the past one week. The steep correction in the stock has come after a 66.9% rally in six months.

The sharp decline in PC Jeweller stock is part of a profit booking of the jewellery stock after its stupendous rally over the past few weeks. The recent downtrend in the stock came after the stock surged to its 52-week high levels last week.

The decline has come against the backdrop of healthy second quarter earnings announced by PC Jewellers earlier, which makes it a purely technical, momentum-based correcti...