Sensex flattens as Nifty slips below 24,050 after Fed hawkish hold ends four-session rally

The Federal Reserve kept rates unchanged at its FOMC meeting, but the dot plot signaled a possible rate hike in October, sending the US 10-year yield up to 4.46%. Oil also fell after Iran and the US reached a peace deal, pushing Brent down to around $78 a barrel. Indian equities were mixed, with IT stocks leading losses while banks and FMCG outperformed, leaving the Nifty slightly lower at 24,050. The note highlights that lower Brent prices can ease India’s inflation pressures and support rupee stability.