Indian stocks seen flat at the open as Fed hawkishness offsets a 0.5% drop in Brent

More oil tankers stranded in the Gulf since the start of the Iran war are expected to move through the Strait of Hormuz, pressuring Brent crude futures, which fell 0.5% to trade near four-month lows. As the world’s No. 3 oil importer and consumer, India typically benefits from lower oil prices through an improved inflation and growth outlook. However, rising expectations of tighter U.S. Federal Reserve policy have weighed on emerging-market risk appetite, offsetting some of the oil-related support. Foreign investors were small net buyers of Indian shares in the session, even as year-to-date outflows total $29.84 billion.