Shares of the Titan slipped by 1.3%, Tribhovandas Bhimji Zaveri was down by 2% and PC Jeweller was lower by 3.5%. Gitanjali Gems fell 0.9%.
"Things are being worked out by the Finance Ministry and some announcements (restrictions) may come in a day or two," a source said to PTI.
On Monday, trade deficit data showed that gold imported surged to $ 4.17 billion from $1.09 billion last year. The rise the gold imports may be due to festive season in India.
Last year, government had increased the import duty on gold to a record 10 per cent. However, relaxed partly in the month of May.