Metal, Realty Stocks Fall Up to 3% Amid US Fed's Hawkish Stance

Metal and realty stocks declined for the third straight session, with Nifty Realty and Nifty Metal indices among the top sectoral losers. The US Federal Reserve's hawkish outlook, signaling no rate cuts, has sparked concerns that the Reserve Bank of India (RBI) might follow suit. Despite the RBI's recent 50-basis-point repo rate cut and Governor Sanjay Malhotra's openness to further cuts if inflation remains low, investor sentiment weakened. Lower RBI rates typically boost home loan demand, benefiting realty stocks and, in turn, metal stocks tied to construction. Realty firms like Phoenix Mills, Brigade Enterprises,

, and fell up to 2%, while metal stocks including Hindustan Copper, inc, Nalco, Welspun Corp, Hindalco, L, NMDC, and Tata Steel dropped up to 3%.