Mumbai, June 19:
Indian stock markets opened almost flat on Thursday as investors remained cautious due to the US Federal Reserve's interest rate decision and weak signals from Asian markets. Early selling was seen in IT, PSU banks, FMCG, and pharma sectors.

At 9:34 am, the Sensex was trading slightly higher by just 1.66 points at 81,446.32, while the Nifty rose 9.90 points to reach 24,821.95.
Nifty Bank gained 43.15 points to 55,871.90. The Nifty Midcap 100 dropped 40.35 points to 58,068.85, while the Nifty Smallcap 100 added 25.60 points to reach 18,404.05.

Experts said the US Fed kept interest rates unchanged, as expected. However, it now expects only two rate cuts in 2024, and some members see no cuts at all. The Fed also revised its outlook, now planning just one quarter-point rate cut in 2026 and 2027.

Analysts believe the Nifty may remain in the 24,500–25,000 range, depending on the Israel-Iran conflict. If tensions reduce, the market could rise. But if conflict worsens, especially in the Strait of Hormuz affecting crude oil prices, Nifty may struggle to hold 24,500.

Top losers on the Sensex included Tech Mahindra, IndusInd Bank, Infosys, HCLTech, PowerGrid, and Tata Steel. Top gainers were Titan, M&M, Kotak Mahindra Bank, and Tata Motors.

Foreign Institutional Investors (FIIs) bought stocks worth ₹890 crore on June 18, while Domestic Institutional Investors (DIIs) invested ₹1,091 crore.

Most Asian markets like Bangkok, Japan, Seoul, Jakarta, Hong Kong, and China were trading in the red.
In the US, markets closed mixed after the Fed announcement.
Dow Jones fell 44.14 points, S&P 500 dropped 1.85 points, and Nasdaq gained 25.18 points.