{"id":27290,"date":"2026-05-14T09:14:00","date_gmt":"2026-05-14T09:14:00","guid":{"rendered":"https:\/\/wp-api.pocketful.in\/blog\/?post_type=personal-finance&#038;p=27290"},"modified":"2026-05-14T09:14:00","modified_gmt":"2026-05-14T09:14:00","slug":"pm-modi-nation-first-appeal-stock-market-impact","status":"publish","type":"personal-finance","link":"https:\/\/wp-api.pocketful.in\/blog\/personal-finance\/pm-modi-nation-first-appeal-stock-market-impact\/","title":{"rendered":"PM Modi\u2019s Nation First Appeal: Stock Market Impact"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Following Prime Minister Narendra Modi\u2019s recent &#8220;Nation First&#8221; appeal, the Indian stock market witnessed a sudden and significant impact. His seven appeals including refraining from purchasing gold, curtailing foreign travel, opting for public transport, and promoting Swadeshi products specifically affected shares in the jewelry and import-dependent sectors. In this blog, we will explore the impact of PM Modi\u2019s appeals on the stock market, identify the sectors most heavily affected, examine which companies&#8217; shares declined, and analyze what this entire sequence of events signifies for investors.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/wp-api.pocketful.in\/blog\/personal-finance\/pm-modi-nation-first-appeal-stock-market-impact\/#What_Exactly_Did_PM_Modi_Appeal_To_Citizens\" title=\"What Exactly Did PM Modi Appeal To Citizens?\u00a0\">What Exactly Did PM Modi Appeal To Citizens?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/wp-api.pocketful.in\/blog\/personal-finance\/pm-modi-nation-first-appeal-stock-market-impact\/#The_Real_Reason_Behind_the_Appeal_Indias_Forex_Pressure\" title=\"The Real Reason Behind the Appeal: India\u2019s Forex Pressure\u00a0\">The Real Reason Behind the Appeal: India\u2019s Forex Pressure\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/wp-api.pocketful.in\/blog\/personal-finance\/pm-modi-nation-first-appeal-stock-market-impact\/#Which_Sectors_Could_Be_Impacted_by_PM_Modi_Appeal\" title=\"Which Sectors Could Be Impacted by PM Modi Appeal?\u00a0\">Which Sectors Could Be Impacted by PM Modi Appeal?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/wp-api.pocketful.in\/blog\/personal-finance\/pm-modi-nation-first-appeal-stock-market-impact\/#Sectors_That_May_Benefit_From_a_Weak_Rupee\" title=\"Sectors That May Benefit From a Weak Rupee\">Sectors That May Benefit From a Weak Rupee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/wp-api.pocketful.in\/blog\/personal-finance\/pm-modi-nation-first-appeal-stock-market-impact\/#Conclusion\" title=\"Conclusion\u00a0\">Conclusion\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/wp-api.pocketful.in\/blog\/personal-finance\/pm-modi-nation-first-appeal-stock-market-impact\/#Frequently_Asked_Questions_FAQs\" title=\"Frequently Asked Questions (FAQs)\">Frequently Asked Questions (FAQs)<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"h-what-exactly-did-pm-modi-appeal-to-citizens\"><span class=\"ez-toc-section\" id=\"What_Exactly_Did_PM_Modi_Appeal_To_Citizens\"><\/span>What Exactly Did PM Modi Appeal To Citizens?\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th>PM Modi&#8217;s Appeal<\/th><th>Main Economic Objective<\/th><th>Possible Impact on the Stock Market<\/th><\/tr><\/thead><tbody><tr><td>Avoid buying gold for 1 year<\/td><td>Reduce gold import bill and dollar outflow<\/td><td>Pressure on jewellery stocks<\/td><\/tr><tr><td>Use public transport and metro more frequently<\/td><td>Reduce fuel consumption<\/td><td>Impact on oil demand-linked sectors<\/td><\/tr><tr><td>Promote Work From Home and virtual meetings<\/td><td>Lower petrol and diesel usage<\/td><td>Positive for IT and digital service sectors<\/td><\/tr><tr><td>Reduce edible oil consumption<\/td><td>Cut edible oil imports<\/td><td>Pressure on edible oil companies<\/td><\/tr><tr><td>Reduce use of chemical fertilizers<\/td><td>Lower fertilizer imports and subsidy burden<\/td><td>Higher volatility in fertilizer sector<\/td><\/tr><tr><td>Prefer Swadeshi and Made in India products<\/td><td>Support domestic manufacturing<\/td><td>Positive for electronics, defence, and manufacturing stocks<\/td><\/tr><tr><td>Avoid foreign travel and destination weddings<\/td><td>Conserve foreign exchange reserves<\/td><td>Impact on aviation and international travel sectors<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-real-reason-behind-the-appeal-india-s-forex-pressure\"><span class=\"ez-toc-section\" id=\"The_Real_Reason_Behind_the_Appeal_Indias_Forex_Pressure\"><\/span>The Real Reason Behind the Appeal: India\u2019s Forex Pressure\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The primary reasons behind PM Modi&#8217;s seven appeals are believed to be the rising import bill, the weakening rupee, and the mounting pressure on India&#8217;s forex reserves.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-1-rising-crude-oil-prices\">1. Rising Crude Oil Prices <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">India&#8217;s most pressing concern at present is crude oil prices. Due to escalating tensions in West Asia and the crisis in the Strait of Hormuz, Brent crude oil has once again surged above $100 per barrel.India imports approximately 85% of its crude oil requirements from abroad. Consequently, a rise in oil prices has a direct impact on the import bill, inflation, and the Rupee.<\/p>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Crude Oil Related Data<\/th><th>Current Situation<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Brent Crude Price<\/td><td>Above $100\/barrel<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">India\u2019s Oil Import Dependency<\/td><td>85%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Estimated Import Bill Impact<\/td><td>Up to \u20b917 lakh crore<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-2-pressure-on-forex-reserves\">2. Pressure on Forex Reserves <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">India has to spend billions of dollars annually on items such as gold, oil, edible oils, and foreign travel. When imports rise, the pressure on foreign exchange reserves increases.<\/p>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th>Forex Concern<\/th><th>Latest Situation<\/th><\/tr><\/thead><tbody><tr><td>Gold Import Bill<\/td><td>$72 Billion<\/td><\/tr><tr><td>Rupee vs Dollar<\/td><td>Near record low<\/td><\/tr><tr><td>FII\/FPI Outflows<\/td><td>\u20b92 lakh crore+<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-3-weakening-rupee-against-the-dollar\">3. Weakening Rupee Against the Dollar <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In recent months, the Rupee has consistently weakened against the Dollar. The primary reasons for this are the rising import bill and selling by foreign investors.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-4-gold-imports-became-a-major-issue\">4. Gold Imports Became a Major Issue <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The most widely discussed aspect of PM Modi&#8217;s appeal was the call &#8220;not to buy gold for one year.&#8221; The reason behind this is India&#8217;s rising gold import bill. India purchases almost its entire requirement of gold from abroad.<\/p>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th>Gold Import Data<\/th><th>Current Situation<\/th><\/tr><\/thead><tbody><tr><td>India&#8217;s Gold Import Dependency<\/td><td>99%<\/td><\/tr><tr><td>FY26 Gold Import Bill<\/td><td>$72 Billion<\/td><\/tr><tr><td>Average Monthly Gold Imports<\/td><td>60 tonnes<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-5-rising-foreign-travel-spending\">5. Rising Foreign Travel Spending <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Over the past few years, the trend of traveling abroad and hosting destination weddings has surged rapidly. Consequently, a significant amount of dollars is being spent overseas. According to reports, Indians&#8217; overseas travel spending exceeded \u20b93.5 lakh crore in 2025-26. In light of this, the government is advising against foreign travel.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-6-expensive-edible-oil-imports\">6. Expensive Edible Oil Imports <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">India imports approximately 60-65% of its edible oil requirements from abroad. A substantial amount of foreign exchange is spent annually on commodities such as palm oil, soybean oil, and sunflower oil.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-7-fertilizer-imports-and-subsidy-burden\">7. Fertilizer Imports and Subsidy Burden <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">India is heavily dependent on fertilizer imports. In particular, a significant portion of fertilizers such as DAP and potash is sourced from abroad.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If global prices rise, the subsidy burden on the government also increases.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-8-push-for-domestic-manufacturing\">8. Push for Domestic Manufacturing <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The objective behind emphasizing &#8220;Vocal for Local&#8221; and Swadeshi products is to reduce imports and support domestic manufacturing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-9-fear-of-future-policy-changes\">9. Fear of Future Policy Changes <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The market&#8217;s biggest concern isn&#8217;t just speech, but future policy actions. Investors fear that the government will:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It may increase the gold import duty.<\/li>\n\n\n\n<li>It may tighten import restrictions.<\/li>\n\n\n\n<li>It may introduce new PLI schemes.<\/li>\n\n\n\n<li>It may relaunch Sovereign Gold Bonds.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-which-sectors-could-be-impacted-by-pm-modi-appeal\"><span class=\"ez-toc-section\" id=\"Which_Sectors_Could_Be_Impacted_by_PM_Modi_Appeal\"><\/span>Which Sectors Could Be Impacted by PM Modi Appeal?\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The impact of Prime Minister Narendra Modi&#8217;s &#8220;Nation First&#8221; appeal is not believed to be limited solely to the gold market. According to market experts, its influence could be observed across various import-heavy and consumer-driven sectors. In particular, pressure may intensify on industries that rely heavily on gold, crude oil, foreign travel, or imported raw materials.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-1-the-jewellery-sector-may-face-the-biggest-impact\">1. The Jewellery Sector May Face the Biggest Impact <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Following PM Modi&#8217;s appeal to &#8220;refrain from buying gold for one year,&#8221; jewellery stocks witnessed an immediate and significant decline. Investors fear that gold demand could slow down and that the government might increase import duties in the future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-2-oil-amp-energy-sector-could-remain-under-pressure\">2. Oil &amp; Energy Sector Could Remain Under Pressure\u00a0<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If crude oil remains above $100 per barrel for an extended period, the margins of oil marketing companies could be impacted.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-3-aviation-amp-travel-sector-may-see-weak-sentiment\">3. Aviation &amp; Travel Sector May See Weak Sentiment <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Concerns within the travel industry have intensified following an appeal to avoid foreign travel. According to a Reuters report, overseas travel inquiries have witnessed a decline of 10-15%. This could exert short-term pressure on airlines, travel companies, and the hotel sector.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-4-import-dependent-companies-could-face-pressure\">4. Import-Dependent Companies Could Face Pressure <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The impact of a weakening rupee and rising import bills could also be felt by companies dealing in electronics, edible oils, and imported raw materials. If the government imposes import restrictions or levies higher duties, volatility in these sectors could increase.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\" id=\"h-5-it-amp-pharma-exporters-could-benefit\">5. IT &amp; Pharma Exporters Could Benefit <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">While import-heavy sectors are under pressure, export-oriented companies could stand to benefit from a weaker rupee. IT services and pharmaceutical companies generate their earnings in dollars; consequently, their revenue growth may appear stronger when the rupee depreciates.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-sectors-that-may-benefit-from-a-weak-rupee\"><span class=\"ez-toc-section\" id=\"Sectors_That_May_Benefit_From_a_Weak_Rupee\"><\/span>Sectors That May Benefit From a Weak Rupee<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Following PM Modi&#8217;s appeal, the most widely discussed topics in the market are the weakening rupee and the rising import bill. However, a weak rupee is not necessarily negative for every sector; there are certain export-oriented sectors that could stand to benefit directly from it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"h-why-do-export-oriented-companies-benefit-nbsp\"><strong>Why Do Export-Oriented Companies Benefit ?&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Dollar earnings yield higher value when converted into rupees.<\/li>\n\n\n\n<li>The profitability of export companies can improve.<\/li>\n\n\n\n<li>A weak rupee enhances global competitiveness.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Sector<\/th><th class=\"has-text-align-center\" data-align=\"center\">Expected Impact<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">IT Services<\/td><td class=\"has-text-align-center\" data-align=\"center\">Positive<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Pharma Exporters<\/td><td class=\"has-text-align-center\" data-align=\"center\">Positive<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Specialty Chemicals<\/td><td class=\"has-text-align-center\" data-align=\"center\">Positive<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Textile Exporters<\/td><td class=\"has-text-align-center\" data-align=\"center\">Positive<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Market experts believe that if the rupee remains weak for an extended period, export-focused companies could demonstrate better performance in the short term, particularly those in the IT and pharma sectors.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-conclusion\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The impact of PM Modi\u2019s \u201cNation First\u201d appeal was not limited merely to sentiment; rather, its effects were directly visible in the stock market and across various sectors. A decline in jewelry stocks, a weakening rupee, and rising crude oil prices have heightened investor concerns. In the near future, the direction of the market will depend significantly on government policies, crude oil prices, and the status of foreign exchange reserves. Under these circumstances, investors should focus more on macroeconomic signals rather than succumbing to short-term panic. <\/p>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">S.NO.<\/th><th class=\"has-text-align-left\" data-align=\"left\">Check Out These Interesting Posts You Might Enjoy!<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">1<\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/is-it-better-to-buy-stocks-when-the-market-is-up-or-down\/\">Is It Better To Buy Stocks When The Market Is Up Or Down?<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">2<\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/iran-us-ceasefire-impact-on-indian-stock-market\/\">Iran-US Ceasefire Impact on Indian Stock Market: Sector Winners &amp; Losers<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">3<\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/factors-affecting-the-indian-stock-market\/\">Key Factors Affecting the Indian Stock Market Explained<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">4<\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/how-does-the-stock-market-work-in-india\/\">How Does the Stock Market Work in India?<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">5<\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/what-are-the-challenges-traders-face-when-trading-in-the-stock-market\/\">What Are The Challenges Traders Face When Trading In The Stock Market?<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-frequently-asked-questions-faqs\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs\"><\/span>Frequently Asked Questions (FAQs)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"saswp-faq-block-section\"><ol style=\"list-style-type:none\"><li style=\"list-style-type: none\"><h3 class=\"\">Why did jewelry stocks fall after PM Modi&#8217;s appeal?<\/h3><p class=\"saswp-faq-answer-text\">After PM Modi&#8217;s appeal to reduce gold buying, investors feared a slowdown in demand, which is why jewelry stocks fell.<\/p><li style=\"list-style-type: none\"><h3 class=\"\">Is PM Modi&#8217;s appeal negative for gold investors?<\/h3><p class=\"saswp-faq-answer-text\">No, according to experts, gold is still considered a long-term hedge.<\/p><li style=\"list-style-type: none\"><h3 class=\"\">Which sectors may benefit from a weak rupee?<\/h3><p class=\"saswp-faq-answer-text\">IT, pharmaceutical, and export-oriented sectors may benefit from a weak rupee.<\/p><li style=\"list-style-type: none\"><h3 class=\"\">Why is the government worried about gold imports?<\/h3><p class=\"saswp-faq-answer-text\">India buys most of its gold from abroad, which increases pressure on forex reserves.<\/p><li style=\"list-style-type: none\"><h3 class=\"\">Can gold import duty increase in India?<\/h3><p class=\"saswp-faq-answer-text\">Market experts believe that gold import duty may increase in the future.<\/p><\/ul><\/div>","protected":false},"excerpt":{"rendered":"<p>Following Prime Minister Narendra Modi\u2019s recent &#8220;Nation First&#8221; appeal, the Indian stock market witnessed a sudden and significant impact. His seven appeals including refraining from purchasing gold, curtailing foreign travel, opting for public transport, and promoting Swadeshi products specifically affected shares in the jewelry and import-dependent sectors. In this blog, we will explore the impact [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":27295,"parent":0,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-27290","personal-finance","type-personal-finance","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-finance"],"acf":{"freelancer":"Harjyot"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.13 (Yoast SEO v21.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PM Modi\u2019s 7 Appeals: Market Impact &amp; Sector Analysis<\/title>\n<meta name=\"description\" content=\"PM Narendra Modi\u2019s \u201cNation First\u201d appeal impacted the Indian stock market. Explore effects on gold, jewellery stocks, oil, travel, forex reserves, and sectors that may gain or face pressure.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM Modi\u2019s Nation First Appeal: Stock Market Impact\" \/>\n<meta property=\"og:description\" content=\"PM Narendra Modi\u2019s \u201cNation First\u201d appeal impacted the Indian stock market. 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