New Delhi, Oct. 12 -- Indian equity markets are likely to become increasingly driven by corporate earnings, with companies demonstrating strong cash flows, durable earnings visibility and disciplined execution better positioned to navigate continued volatility, according to a research report by ICICI Prudential AMC.

The report said persistent external risks, including tensions in West Asia, crude oil prices, global bond yields and foreign portfolio investor (FPI) outflows, could continue to influence market movements. It added that domestic liquidity and resilient economic activity could provide support, while disciplined stock selection would become increasingly important in determining returns.

The assessment comes after Indian equiti...