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Indian equity markets are likely to make cautious start on Wednesday, despite positive global cues. Traders may remain cautious amid escalating tensions between the U.S. and Iran, even as softer U.S. inflation data and strong corporate earnings supported global equities. Additionally, sentiments may remain downbeat as Foreign Institutional Investors (FIIs) remained net sellers on July 14, 2026, with a net outflow of Rs 739.69 crore.

Some of the key factors to be watched: 

Direct taxes grow 16% to Rs 6.51 lakh crore so far on faster corporate tax mop-up: The government data showed net direct tax collection grew 16.40 per cent to over Rs 6.51 lakh crore till July 13 this fiscal, driven by higher corporate tax mop-up.

India-UK trade pact comes into force on Wednesday; bilateral trade to hit $100 bn by 2030: Commerce Secretary Rajesh Agarwal has said that India and UK will implement a comprehensive economic and trade agreement (CETA) from July 15, with an aim to boost two-way commerce to $100 billion by 2030.  

Govt releases maiden services index; 14 sub-sectors record double-digit growth in April: The government released the first sub-sectoral trial Index of Services Production, which showed 14 out of the 19 sub-sectors of formal services recorded double-digit growth in April 2026.

RBI Governor asks banks to leverage advanced technologies: RBI Governor Sanjay Malhotra has asked banks to leverage advanced technologies, including AI, to expand their reach while ensuring robust cybersecurity and safeguards against fraud and data misuse. 

Nepal-India discuss energy cooperation, cross-border trade: Nepal and India have held meetings with a focus on strengthening bilateral cooperation in the energy sector, with emphasis on cross-border electricity trade. 

Global front: The US markets closed in green on Tuesday, boosted by semiconductor stocks, after June inflation data came in weaker than expected. Asian markets are trading mostly in green on Wednesday, following the broadly positive cues from Wall Street overnight as cooler-than-expected US inflation data reduced expectations of Federal Reserve interest-rate hikes.

Back home, Indian equity benchmarks ended over half percent lower on Tuesday as a sharp surge in crude oil prices due to the renewed flare-up in West Asia dented investors' sentiment. Fresh foreign fund outflows and the falling rupee also put pressure on the markets. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,062.27 crore on Monday, according to exchange data. Finally, the BSE Sensex fell 561.46 points or 0.72% to 77,054.94 and the CNX Nifty was down by 158.95 points or 0.66% to 24,052.05.  

Some of the important factors in trade:

India’s wholesale inflation remains elevated at 9.87% in June: India's wholesale price index (WPI) inflation surged to 9.87 per cent in the month of June 2026 from 9.68 per cent in May 2026, as a fresh spike in food, non-food articles and minerals outweighed a moderation in fuel inflation. 

India sees 15.52% rise in merchandise exports in June: The commerce ministry in its latest data has showed that India’s merchandise exports rose by 15.52 per cent to $40.41 billion in June 2026 as compared to $34.98 billion in June 2025, driven by sustained shipments across key sectors despite broader global economic challenges.

India, EU likely to complete legal scrubbing of trade agreement soon: In a view to fast-track the trade pact process, Commerce and Industry Minister Piyush Goyal has said that India and the 27-member European Union (EU) are likely to complete the legal scrubbing of the trade agreement text within the next week or two.