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Indian equity benchmarks are likely to get a positive start tracking firm global cues and value buying after previous sessions sell-off. Investors will be closely watching Q3 earnings from major companies including HUL, HDFC Bank, BPCL, Pidilite Industries, and Tata Communications.

Some of the key factors to be watched:

Indian economy projected to grow in range of 6.5-6.8% in FY25: A private projected India's GDP to grow at 6.5-6.8 per cent in the current fiscal and said India will have to adapt to the evolving global landscape and harness its domestic strengths to drive sustainable growth.

Foreign fund outflows likely to dent domestic sentiments: Foreign institutional investors (FIIs) and foreign portfolio investors (FPIs) net sold stocks worth Rs 5,920.28 crore in the secondary markets on January 21, taking the month-to-date selling above Rs 50,000-crore mark.

Gold hits over 2-month high: Gold prices jumped to a over two-month peak on Tuesday, supported by a weaker dollar and as markets flocked to the safe-haven asset as uncertainty surrounding US President Donald Trump’s potential tariffs continued to loom.

Renewable energy sector stocks will be in focus: India Ratings and Research (Ind-Ra) said the share of renewables including large hydro in the country's overall energy mix is expected to remain stable at nearly 21 per cent in FY25.

Diamond industry stocks will be in limelight: The Department of Commerce, Government of India has introduced the Diamond Imprest Authorization (DIA) Scheme, aiming to enhance the global competitiveness of India’s diamond sector.

On the global front, the US markets ended higher on Tuesday as markets welcomed Trump’s inaugural address, which considered taking pro-economic steps to boost the economy. Asian markets are trading mostly in green on Wednesday following Wall Street's gains after President Donald Trump’s less aggressive-than-expected tariff stance.

Back home, Indian equity markets crashed sharply on Tuesday following U.S. President Donald Trump's announcement of trade tariffs on neighboring countries shortly after taking office. Finally, the BSE Sensex plunged 1235.08 points or 1.60% to 75,838.36, and the CNX Nifty was down by 320.10 points or 1.37% to 23,024.65.

Some of the important factors for the markets:

Profit booking in heavyweights: The heavyweights like Reliance Industries, SBI, Bajaj Finance, ICICI Bank, HDFC Bank, Bharti Airtel and Maruti Suzuki witnessed a fall on Tuesday.

Concerns amid weak Q3 earnings: Shares of Zomato declined on reporting 57% fall in Q3 consolidated net profit. Dixon Technologies’ shares also plunged after reporting a sequential decline in consolidated net profit and revenue for the December quarter.

Sugar sector stocks were in focus:  A private report indicated that sugar prices hit their lowest in more than three years on January 20 amid reports that India will allow 1 million metric tons of sugar exports in the current season that runs through to end-September.

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