Metal and Realty Stocks Slip Ahead of Powell’s Jackson Hole Speech | Stock Market Today

Market Performance

Indian equities witnessed sector-specific weakness on August 22, with metal and real estate stocks slipping into the red. The sentiment remained cautious as investors tracked global cues, particularly ahead of US Federal Reserve Chair Jerome Powell’s speech at the annual Jackson Hole symposium.

• Nifty Metal index declined over 0.7%, settling near 9,424.
• Nifty Realty index slipped more than 0.5%, hovering around 912 by 10:20 am.

This broad-based weakness in both sectors reflected the uncertainty around the Fed’s monetary stance.

Main News – Global Cues Weigh on Indian Stocks

The focus of the market was firmly on the Jackson Hole symposium in Wyoming. The annual event, running from August 21 to 23, has historically set the tone for global monetary policies.

Powell’s upcoming speech on the economic outlook and policy direction is being closely monitored by global markets. Investors are weighing the possibility of a 25-basis-point rate cut next month, a move that could ease borrowing costs for global investors and shift flows toward emerging markets like India.

Adding to the market chatter, US President Donald Trump once again criticized Powell on Truth Social, calling him “Jerome ‘Too Late’ Powell”. He accused the Fed Chair of delaying rate cuts and blamed him for hurting the housing sector.

Company-Wise Stock Moves

The weakness in indices was mirrored in heavyweights and sector majors.

Metal stocks under pressure:

• JSW Steel and Jindal Steel & Power fell over 1.3% each.
• Steel Authority of India (SAIL) and Hindustan Zinc share price slipped more than 1%.
• Adani Enterprises, Hindustan Copper, Tata Steel, and National Aluminium Company (NALCO) declined close to 1% each.
• Hindalco, Vedanta, and Welspun Corp were down with marginal cuts.

Real estate stocks followed suit:

• Raymond was the top laggard on the realty index, shedding nearly 2% to trade around ₹622.
• Oberoi Realty, Macrotech Developers (Lodha), DLF, and Anant Raj shares dropped close to 1% each.
• Phoenix Mills, Brigade Enterprises, and Godrej Properties edged lower with smaller losses.

Summary

The fall in metal and realty stocks on August 22 highlighted how sensitive these sectors are to global interest rate cues. With Powell’s Jackson Hole speech in focus, investors stayed cautious, trimming positions in JSW Steel, Jindal Steel & Power, SAIL, Hindustan Zinc, Adani Enterprises, Tata Steel, NALCO, Hindalco, Vedanta, Oberoi Realty, DLF, Macrotech Developers, Anant Raj, Phoenix Mills, Brigade Enterprises, and Godrej Properties.

For now, all eyes remain on Powell’s commentary, which could set the next direction for both global liquidity and sectoral flows in India.