Indore (Madhya Pradesh): With fear of corona receding in the city, people made the most of Dhanteras this year and indulged in a frienzed buying spree. The markets that has looked sluggish for most part of the year cheered as people bought gold, silver and diamond jewellery, vehicles and electronic goods.
The main markets be it Sarafa, Bartan Bazaar, jewellery and vehicle showrooms was filled with buyers throughout the day, especially in the evenings. The smaller markets dotted around the city too were decked up and crowded.
Gold, diamond jewellery in demand
According to bullion market players, major buying has been seen in gold, silver and diamond jewellery in the city and jewellery shops in Sarafa and other places reported good sales. Traditionally, people buy gold coins with picture of Goddess Mahalaxmi imprinted on it, as it is considered auspicious. With high gold prices, many people bought beautifully designed 22 carat and 18 carat jewellery. People also shopped for wedding jewellery.
Demand exceeds from stock in automobile
Many people who had planned to buy automobiles on this day were dissapointed as there was a supply constraint due shortage of chips internationally. Most of the best selling brand have long waiting periods. Only those who had pre-booked their automobiles received delivery today. However, the huge demand brought smiles back on the faces of the dealers. Most of the automobiles bought were in the Rs 6 lakh to Rs 10 lakh segment.There was brisk sale in two-wheeler segment also.
"Sale of bullion items was rocking this year on Dhanteras. It appears that pentup demand has finally been released on Dhanteras. Wedding jewellery and diamond items were in great demand," Sumit Anand, Partner Punjabi Saraf.
"The demand for automobiles is quite bullish this year. This surely appears to be revenge buying, though due to shortage of chips there was shortage in supply. But, we have assured all customers that we will supply the vehicles of their choice at the earliest. Around 1000 to 1200 automobiles and around 5000 two-wheelers were sold," Pravin Patel, President Association of Automobile Dealers of Indore (AADI).
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