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Indian equity markets are likely to make a flat to positive start on Wednesday, amid mixed global cues following remarks by US Federal Reserve Chair Jerome Powell on rate cuts. Traders likely to take some support with the reports suggesting that the India-US trade deal is in its final stages of negotiations. However, volatility may come due to fund outflows by Foreign Institutional Investors.

Some of the key factors to be watched:

Gross GST collections rise 6.2% to over Rs 1.84 lakh crore in June: Gross GST collections increased by 6.2 per cent to over Rs 1.84 lakh crore in June but slipped below the Rs 2 lakh crore mark recorded in the previous two months.

Jaishankar holds talks with Japanese counterpart focusing on India-Japan summit: External Affairs Minister S Jaishankar has held talks with his Japanese counterpart Takeshi Iwaya focusing on preparing grounds for India-Japan prime ministerial summit talks later this year.

Indian trade delegation meets Sri Lankan President: An Indian business delegation led by industry body CII met President Anura Kumara Dissanayake to discuss investment opportunities and explore new prospects in the island country.

Foreign Secretary calls on Mauritius PM Ramgoolam: Foreign Secretary Vikram Misri has called on Mauritius Prime Minister Navinchandra Ramgoolam and the two sides committed to strengthening the strategic partnership in line with the evolving priorities of the new government.

Textiles sector’s stocks will be in limelight: Minister of State for Textiles Pabitra Margherita has said that free trade agreements (FTAs) with the US, UK and European Union (EU) will open new opportunities for the textiles sector in India. He also said that the country's textiles exports have crossed $34 billion, and it is aiming to reach $100 billion by 2030.

On the global front: The U.S. markets ended mostly in red on Tuesday, as traders took a cautious approach as they continued to keep an eye on developments in Washington, D.C., where the Senate narrowly voted to approve President Donald Trump's massive tax cuts and spending bill. Asian markets are trading mostly in red on Wednesday, tracking cues from Wall Street overnight.

Back home, Indian equity benchmarks closed marginally higher in a range-bound trade on Tuesday following gains in Bharat Electronics and Reliance Industries. The markets witnessed choppy trading as investors remained cautious ahead to developments in trade negotiations with the U.S. before the upcoming July 9 tariff deadline. Finally, the BSE Sensex rose 90.83 points or 0.11% to 83,697.29 and the CNX Nifty was up by 24.75 points or 0.10% to 25,541.80. 

Some of the important factors in trade: 

Fiscal deficit slips to 0.8% of full-year target at May-end 2025: The Controller General of Accounts (CGA) in its latest data has showed that the central government's fiscal deficit for the first two months (April and May 2025) of FY26 fell to Rs 13,163 crore, or just 0.8% of the annual target, mainly due to a whopping Rs 2.69 lakh crore dividend received from the RBI. 

India's manufacturing sector growth hits 14-month high: A monthly survey said India's manufacturing sector growth rose to a 14-month high of 58.4 in June marked by improved trends in output and new orders, alongside a record upturn in employment. 

Private capital crucial for sustainable development: Finance Minister Nirmala Sitharaman has underlined the crucial role of private capital in driving sustainable development, saying it is both an urgent necessity and a significant opportunity.  

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