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Expert view: Trump tariff risk is real; slowing GDP growth a key concern, says Krishnan V R of Marcellus
Expert view: Trump tariff risk is real; slowing GDP growth a key concern, says Krishnan V R of Marcellus

Mint

time3 days ago

  • Business
  • Mint

Expert view: Trump tariff risk is real; slowing GDP growth a key concern, says Krishnan V R of Marcellus

Expert view on Indian stock market: The risk of Trump tariffs is real, as the US is India's largest trading partner, and we currently run a large trade surplus with them in both goods and services, says Krishnan V R, Chief of Quantitative Research at Marcellus. In an interview with Mint, Krishnan shares his views on Indian stock market triggers, the potential impact of tariffs and his strategy for the US stock market at this juncture. Here are edited excerpts of the interview: GDP growth moderated last year, and the current estimate is for growth to be around 6-6.5 per cent this year and next. With core inflation trending around 3.5 per cent, I do not see much scope for aggregate revenues to grow at more than 12 per cent for most domestically facing businesses. We remain cautious about mass consumption given India's inability to create jobs at scale and stretched household balance sheets. However, an easing inflation backdrop coupled with additional supportive monetary and fiscal policy steps could trigger a near-term recovery in urban consumption. Slowing GDP growth and lower inflation do not bode well for corporate earnings growth. Q1FY26 also saw tariff announcements and the rise of geopolitical risks. I think we need to wait for a material uptick in income growth for a broad-based consumption recovery, as I do not see any additional structural triggers apart from the tailwinds highlighted above. The tariff risk is real, as the US is India's largest trading partner. We currently have a large trade surplus with the US in both merchandise goods and services. It is clear that the US administration intends to use the threat of tariffs and associated uncertainty as a tool for trade negotiations. Given that the US will demand meaningful concessions for Indian market access in case there is a trade agreement, it would be fair to expect that our trade surplus with them might shrink in the near term. However, India's relative tariff levels and export competitiveness compared to other countries will determine the long-term impact of tariffs on its overall goods trade deficit. Firstly, steady and growing domestic flows predominantly through mutual funds, despite a brief drawdown between Sept-2024 and Feb-2025, have been a stabilising factor for equity markets in the face of erratic FII flows. Secondly, domestic mutual funds and retail investors have been net buyers of equity over the last few years, even as foreign investors and promoters have been reducing their stakes. From an investing standpoint, this reallocation of household savings to financial assets offers opportunities to pick well-run companies in broader financial services space like insurance, wealth management, RTAs, depositories, AMCs, among others, which stand to benefit in the long term. According to our global equities team, broad-based index exposure calls for caution at this juncture, and a more selective, bottom-up approach is warranted. Many high-quality businesses are currently lagging—not because of fundamentals, but due to a lack of near-term earnings triggers. On the other hand, companies benefiting from recent tailwinds may be pricing in overly optimistic assumptions. In such an environment, valuation discipline and thoughtful stock selection become critical. For patient investors, this setup also creates a fertile hunting ground—several high-quality, under-the-radar businesses trading at attractive valuations can offer meaningful long-term upside. While US stagflation concerns are valid, they have not been borne out in reality, at least not yet. US jobs data, indicated by non-farm payrolls, surprised positively in May and June. However, the combination of a cheaper US dollar and higher long-term USD yields would suggest some nervousness about holding dollar assets. If US recession risks do play out, then it will obviously have knock-on effects on EM (emerging market) economies, especially those where trade and exports are a meaningful portion of GDP. For India, domestic consumption is more important, and hence, the first-order impact of the US slowdown on the Indian economy will be relatively less. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

Can Energy Transfer Gain From BIS' Current Stance on Ethane Export?
Can Energy Transfer Gain From BIS' Current Stance on Ethane Export?

Globe and Mail

time16-07-2025

  • Business
  • Globe and Mail

Can Energy Transfer Gain From BIS' Current Stance on Ethane Export?

Energy Transfer LP ET, a midstream energy firm, is well-positioned for long-term value creation through its extensive pipeline network, diversified asset base and strong exposure to the natural gas liquids ('NGL') export market. The recent decision by the U.S. Bureau of Industry and Security ('BIS') to remove the license requirement for ethane exports to China can act as a catalyst for Energy Transfer's long-term growth. This regulatory change significantly reduces trade barriers and uncertainty prevailing over the ethane expor t to China and opens a major global demand center for U.S. ethane. Energy Transfer, which already exports ethane through its Marcus Hook terminal and operates pipelines connected to export hubs, is well-equipped to meet this rising demand and benefit from increased throughput volumes and export margins. The company operates more than 140,000 miles of pipelines and has a strategic footprint across key producing regions such as the Permian, Eagle Ford and Marcellus. This robust infrastructure enables efficient transportation and export of hydrocarbons, particularly ethane, which is vital for petrochemical production. The new regulatory development enhances Energy Transfer's competitiveness in the global ethane market, supporting higher utilization rates across its NGL infrastructure. This reinforces Energy Transfer's strategic vision of expanding international energy partnerships while capitalizing on its cost-advantaged U.S. supply position. How the Removal of the License Requirement Impacts Other Ethane Exporters This decision of BIS to revoke the licensing requirement can boost the prospects of other ethane exporters to China. Enterprise Products Partners EPD, which exports a large volume of ethane to China, will benefit and continue to export as BIS rescinded licensing requirements. Phillips 66 PSX has a significant presence in the global ethane market and China is a key destination for the U.S. ethane exports. PSX too will benefit from BIS' decision. ET Stock's Price Performance Units of ET have risen 3.9% in the past three months compared with the Zacks Oil and Gas - Production Pipeline - MLB industry's growth of 2.8%. Image Source: Zacks Investment Research ET's Earnings Estimates The Zacks Consensus Estimate for Energy Transfer's 2025 earnings per unit ('EPU') indicates a decline of 1.33% in the past 60 days, while the same for 2026 EPU indicates an increase of 2.56% in the same time period. Image Source: Zacks Investment Research ET's Units Are Trading at a Discount Energy Transfer's units are somewhat inexpensive relative to the industry. ET's current trailing 12-month Enterprise Value/Earnings before Interest, Tax, Depreciation and Amortization (EV/EBITDA) TTM is 10.16X compared with the industry average of 11.54X. This indicates that the firm is presently undervalued compared with its industry. ET's Zacks Rank Energy Transfer currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Enterprise Products Partners L.P. (EPD): Free Stock Analysis Report Phillips 66 (PSX): Free Stock Analysis Report Energy Transfer LP (ET): Free Stock Analysis Report

15 Books That Made People Love Reading Again
15 Books That Made People Love Reading Again

Buzz Feed

time25-06-2025

  • Entertainment
  • Buzz Feed

15 Books That Made People Love Reading Again

Reading slumps are bound to happen to all bookworms, but it only takes one reaaaally good book to get out of one. Recently, I asked BuzzFeed Community members to share the book that got them out of a deep reading rut, and I'm about ready to head to the bookstore ASAP. Here are some book recs that made people fall in love with reading again: "Remarkably Bright Creatures by Shelby Van Pelt. It's a quirky book about an octopus who helps an aquarium employee get through her grief. I know it sounds bizarre, but trust me. I couldn't put it down." —Anonymous, 33Here's a quick synopsis from Goodreads:After Tova Sullivan's husband died, she began working the night shift at the Sowell Bay Aquarium, mopping floors and tidying up. Keeping busy has always helped her cope, which she's been doing since her eighteen-year-old son, Erik, mysteriously vanished on a boat in Puget Sound over thirty years becomes acquainted with curmudgeonly Marcellus, a giant Pacific octopus living at the aquarium. Marcellus knows more than anyone can imagine but wouldn't dream of lifting one of his eight arms for his human captors--until he forms a remarkable friendship with the detective, Marcellus deduces what happened the night Tova's son disappeared. And now Marcellus must use every trick his old invertebrate body can muster to unearth the truth for her before it's too late. "The Lord of the Rings by J.R.R. Tolkien. I started reading it after the first movie because I loved the movie so much and didn't want to wait a year to find out what happened, so I decided to read the books. Twenty-five years later, I have bookshelves of books. LOTR instilled a love of fantasy novels, and I still mostly only read fantasy." —flyerboy6Here's a quick synopsis from Goodreads:In ancient times the Rings of Power were crafted by the Elven-smiths, and Sauron, the Dark Lord, forged the One Ring, filling it with his own power so that he could rule all others. But the One Ring was taken from him, and though he sought it throughout Middle-earth, it remained lost to him. After many ages it fell by chance into the hands of the hobbit Bilbo Sauron's fastness in the Dark Tower of Mordor, his power spread far and wide. Sauron gathered all the Great Rings to him, but always he searched for the One Ring that would complete his Bilbo reached his eleventy-first birthday he disappeared, bequeathing to his young cousin Frodo the Ruling Ring and a perilous quest: to journey across Middle-earth, deep into the shadow of the Dark Lord, and destroy the Ring by casting it into the Cracks of Lord of the Rings tells of the great quest undertaken by Frodo and the Fellowship of the Ring "Back to the classics: I recently read The Count of Monte Cristo by Alexandre Dumas. What a read! It's a template for modern spy thrillers and gothic romance. There's not a wasted word in all of the 1,200 or more pages." —i_before_a_except_after_jHere's a quick synopsis from Goodreads:Thrown in prison for a crime he has not committed, Edmond Dantes is confined to the grim fortress of If. There he learns of a great hoard of treasure hidden on the Isle of Monte Cristo and becomes determined not only to escape but to unearth the treasure and use it to plot the destruction of the three men responsible for his incarceration. A huge popular success when it was first serialized in the 1840s, Dumas was inspired by a real-life case of wrongful imprisonment when writing his epic tale of suffering and retribution. "Anything by Kristin Hannah. I was first introduced to her when I read The Nightingale, and since then, I have been hooked. The characters feel so real, and the storytelling is like no other. Highly recommend." —AnonymousHere's a quick synopsis from Goodreads:In the quiet village of Carriveau, Vianne Mauriac says goodbye to her husband, Antoine, as he heads for the Front. She doesn't believe that the Nazis will invade France…but invade they do, in droves of marching soldiers, in caravans of trucks and tanks, in planes that fill the skies and drop bombs upon the innocent. When a German captain requisitions Vianne's home, she and her daughter must live with the enemy or lose everything. Without food or money or hope, as danger escalates all around them, she is forced to make one impossible choice after another to keep her family sister, Isabelle, is a rebellious eighteen-year-old, searching for purpose with all the reckless passion of youth. While thousands of Parisians march into the unknown terrors of war, she meets Gäetan, a partisan who believes the French can fight the Nazis from within France, and she falls in love as only the young can…completely. But when he betrays her, Isabelle joins the Resistance and never looks back, risking her life time and again to save others. "Love From A to Z by S.K. Ali. It's a very sweet love story featuring a well-done Muslim representation! I was sad to finish it (and disappointed that the sequel wasn't as great, in my honest opinion), but it made me start reading more often to try to find a book as good as that one!" —AnonymousHere's a quick synopsis from Goodreads:Zayneb's teacher won't stop reminding the class how "bad" Muslims are. But Zayneb, the only Muslim in class, isn't bad. She's angry. When she gets suspended for confronting her teacher, and he begins investigating her activist friends, Zayneb heads to her aunt's house in Doha, Qatar, for an early start to spring by the guilt of getting her friends in trouble, she resolves to try out a newer, "nicer" version of herself in a place where no one knows her. Then her path crosses with Adam' he got diagnosed with multiple sclerosis in November, Adam has stopped going to classes, intent instead on perfecting the making of things. Intent on keeping the memory of his mom alive for his little sister. And intent on keeping his diagnosis a secret from his grieving Adam and Zayneb are playing roles for others, keeping their real thoughts locked away in their journals. Until a marvel and an oddity occur. Adam and Zayneb meeting. "I'd recommend The Daughter of Doctor Moreau by Silvia Moreno-Garcia. I needed a break from the serious stuff I've been reading. It's definitely not light and fluffy, but it was great at capturing the audience, making me care about the story and characters, and making me want to seek out the source material." —charmingvolcano268Here's a quick synopsis from Goodreads:Carlota Moreau: a young woman, growing up in a distant and luxuriant estate, safe from the conflict and strife of the Yucatán peninsula. The only daughter of either a genius, or a Laughton: a melancholic overseer with a tragic past and a propensity for alcohol. An outcast who assists Dr. Moreau with his scientific experiments, which are financed by the Lizaldes, owners of magnificent haciendas and plentiful hybrids: the fruits of the Doctor's labor, destined to blindly obey their creator and remain in the shadows. A motley group of part human, part animal of them living in a perfectly balanced and static world, which is jolted by the abrupt arrival of Eduardo Lizalde, the charming and careless son of Doctor Moreau's patron, who will unwittingly begin a dangerous chain Moreau keeps secrets, Carlota has questions, and in the sweltering heat of the jungle, passions may ignite. "I listened to the audiobook of They Called Me a Lioness by Ahed Tamimi to better understand the situation in Gaza. I've never been much of a reader, but audiobooks make it easier for me. Since then, I've listened to several other nonfiction books." —Alexander, 27Here's a quick synopsis from Goodreads:A Palestinian activist jailed at sixteen after a confrontation with Israeli soldiers illuminates the daily struggles of life under occupation in this moving, deeply personal this is not just a story of activism or imprisonment. It is the human-scale story of an occupation that has riveted the world and shaped global politics, from a girl who grew up in the middle of it. Tamimi's father was born in 1967, the year that Israel began its occupation of the West Bank ,and he grew up immersed in the resistance movement. One of Tamimi's earliest memories is visiting him in prison, poking her toddler fingers through the fence to touch his hand. She herself would spend her seventeenth birthday behind bars. Living through this greatest test and heightened attacks on her village, Tamimi felt her resolve only deepen, in tension with her attempts to live the normal life of a daughter, sibling, friend, and student. "The Will Trent series by Karin Slaughter. The show was great, and despite having major differences, the books are astounding. Triptch (the first book) has several twists and even lets you 'solve' them. It also provides insight into poverty, the prison cycle, abuse of power, and more." —nouseforausernameHere's a quick synopsis from Goodreads:In the city of Atlanta, women are dying — at the hands of a killer who signs his work with a single, chilling act of mutilation. Leaving behind enough evidence to fuel a frenzied police hunt, this cunning madman is bringing together dozens of lives, crossing the boundaries of wealth and race. And the people who are chasing him must cross those boundaries too. Among them is Michael Ormewood, a veteran detective whose marriage is hanging by a thread—and whose arrogance and explosive temper are threatening his career. And Angie Polaski, a beautiful vice cop who was once Michael's lover before she became his another player has entered the game: a loser ex-con who has stumbled upon the killer's trail in the most coincidental of ways—someone who may be the key to breaking the case wide open. "Throne of Glass by Sarah J. Maas is the BEST fantasy series ever. The way the series develops book by book is wild. I cried three times while reading the last book because I was so invested in the storyline and characters. I can't recommend it enough. You have to read all eight books, and though they are long, they are so worth it." —pastelmoon72Here's a quick synopsis from Goodreads:In a land without magic, where the king rules with an iron hand, an assassin is summoned to the castle. She comes not to kill the king, but to win her freedom. If she defeats twenty-three killers, thieves, and warriors in a competition, she is released from prison to serve as the king's champion. Her name is Celaena Crown Prince will provoke her. The Captain of the Guard will protect her. But something evil dwells in the castle of glass — and it's there to kill. When her competitors start dying one by one, Celaena's fight for freedom becomes a fight for survival, and a desperate quest to root out the evil before it destroys her world. "A Confederacy of Dunces by John Kennedy Toole is like nothing else. I don't laugh easily, but that book can wake me from a deep sleep and have me guffawing by just remembering a line. It's easy to write it off as just being funny, but the book is also incredibly sad because of what it obviously says about the author's feelings toward himself. It was the first novel I'd read voluntarily as an adult, and now, I'm never not reading. However, no other book has compared to the escapism and magic I felt with this one." —protrout978Here's a quick synopsis from Goodreads:A monument to sloth, rant, and contempt, a behemoth of fat, flatulence, and furious suspicion of anything modern - this is Ignatius J. Reilly of New Orleans, noble crusader against a world of dunces. The ordinary folk of New Orleans seem to think he is unhinged. Ignatius ignores them, heaving his vast bulk through the city's fleshpots in a noble crusade against vice, modernity, and ignorance. But his momma has a nasty surprise in store for him: Ignatius must get a job. Undaunted, he uses his newfound employment to further his mission - and now he has a pirate costume and a hot-dog cart to do it with. "While I would recommend anything by Hugh Howey, the Silo series is incredible. I enjoyed it so much that I can't bring myself to watch the TV show for fear that it would ruin the experience." —Steve, 55Here's a quick synopsis from Goodreads:This is the story of mankind clawing for survival, of mankind on the edge. The world outside has grown unkind, the view of it limited, talk of it forbidden. But there are always those who hope, who dream. These are the dangerous people, the residents who infect others with their optimism. Their punishment is simple. They are given the very thing they profess to want: They are allowed outside. "One Dark Window and Two Twisted Crowns (The Shepherd King duology) by Rachel Gillig! I had been chugging through my never-ending TBR of romantasy and thriller books and felt like I was hitting a rut. I just wanted something a little different. I heard about the duology from Facebook and immediately downloaded it. I FLEW through them both." —Erin, 39, VirginiaHere's a quick synopsis from Goodreads:Elspeth Spindle needs more than luck to stay safe in the eerie, mist-locked kingdom of Blunder — she needs a monster. She calls him the Nightmare, an ancient, mercurial spirit trapped in her head. He protects her. He keeps her nothing comes for free, especially Elspeth meets a mysterious highwayman on the forest road, her life takes a drastic turn. Thrust into a world of shadow and deception, she joins a dangerous quest to cure Blunder from the dark magic infecting it. And the highwayman? He just so happens to be the King's nephew, Captain of the most dangerous men in Blunder…and guilty of high they must gather twelve Providence Cards — the keys to the cure. But as the stakes heighten and their undeniable attraction intensifies, Elspeth is forced to face her darkest secret yet: the Nightmare is slowly taking over her mind. And she might not be able to stop him. "As someone who mainly reads non-fiction, I once found myself in a reading slump and couldn't get out. I have a friend who likes to read rom-coms, and she recommended me Beach Read by Emily Henry. I was surprised by how much I loved it! I never looked down at rom-coms, don't get me wrong, but I definitely never thought to give them a shot. Now, I like incorporating them into my reading rotation." —Henry, 25Here's a quick synopsis from Goodreads:Augustus Everett is an acclaimed author of literary fiction. January Andrews writes bestselling romance. When she pens a happily ever after, he kills off his entire polar fact, the only thing they have in common is that for the next three months, they're living in neighboring beach houses, broke, and bogged down with writer's one hazy evening, one thing leads to another and they strike a deal designed to force them out of their creative ruts: Augustus will spend the summer writing something happy, and January will pen the next Great American Novel. She'll take him on field trips worthy of any rom-com montage, and he'll take her to interview surviving members of a backwoods death cult (obviously). Everyone will finish a book and no-one will fall in love. Really. "The Song of Achilles by Madeline Miller. Very BookTok-ish, I know, but I ADORE that book. It's written so beautifully, and it makes me sob uncontrollably every single time I read the ending. It's one of my favorite books, and one I recommend to everyone, whether they're bookworms or not." —AnonymousHere's a quick synopsis from Goodreads:Achilles, "the best of all the Greeks," son of the cruel sea goddess Thetis and the legendary king Peleus, is strong, swift, and beautiful, irresistible to all who meet him. Patroclus is an awkward young prince, exiled from his homeland after an act of shocking violence. Brought together by chance, they forge an inseparable bond, despite risking the gods' are trained by the centaur Chiron in the arts of war and medicine, but when word comes that Helen of Sparta has been kidnapped, all the heroes of Greece are called upon to lay siege to Troy in her name. Seduced by the promise of a glorious destiny, Achilles joins their cause, and torn between love and fear for his friend, Patroclus follows. Little do they know that the cruel Fates will test them both as never before and demand a terrible sacrifice. Lastly: "Sunrise on the Reaping by Suzanne Collins! I honestly think it's one of the best books I've read so far this year. You can tell that Suzanne isn't in it for the money grab. It's a painful story that speaks so much about the world today." —Emily, New JerseyHere's a quick synopsis from Goodreads:As the day dawns on the fiftieth annual Hunger Games, fear grips the districts of Panem. This year, in honor of the Quarter Quell, twice as many tributes will be taken from their in District 12, Haymitch Abernathy is trying not to think too hard about his chances. All he cares about is making it through the day and being with the girl he Haymitch's name is called, he can feel all his dreams break. He's torn from his family and his love, shuttled to the Capitol with the three other District 12 tributes: a young friend who's nearly a sister to him, a compulsive oddsmaker, and the most stuck-up girl in town. As the Games begin, Haymitch understands he's been set up to fail. But there's something in him that wants to have that fight reverberate far beyond the deadly arena. I'm adding alllll of these to my TBR as we speak! What's a book that has gotten you out of a deep reading slump? Let us know in the comments, or you can anonymously submit your response using the form below!

Bipartisan bill would move DOE office to Pennsylvania
Bipartisan bill would move DOE office to Pennsylvania

E&E News

time18-06-2025

  • Business
  • E&E News

Bipartisan bill would move DOE office to Pennsylvania

Pennsylvania's senators are sponsoring legislation to move the Department of Energy's Office of Fossil Energy from Washington to Pittsburgh. Sen. Dave McCormick, a Republican, and Sen. John Fetterman, a Democrat, last week teamed up to introduce the bill, which would force the move a year after passage. 'For far too long, federal agencies in Washington have been physically removed from the workers and industries they regulate,' McCormick said in a statement. Advertisement 'I'm proud to partner with Senator Fetterman on this legislation to bring a critical Energy Department office to Pittsburgh near the heart of the Marcellus.'

Sensex crashes over 900 points, Nifty 50 falls below 24,750; why is the Indian stock market falling today?
Sensex crashes over 900 points, Nifty 50 falls below 24,750; why is the Indian stock market falling today?

Mint

time27-05-2025

  • Business
  • Mint

Sensex crashes over 900 points, Nifty 50 falls below 24,750; why is the Indian stock market falling today?

After two consecutive sessions of healthy gains, Indian stock market benchmarks, the Sensex and the Nifty 50, suffered significant losses in intraday trade on Tuesday, May 27. The Sensex opened at 82,038.20 against its previous close of 82,176.45 and crashed over 900 points, or 1 per cent, to an intraday low of 81,261.96. The Nifty 50 opened at 24,956.65 against its previous close of 25,001.15 and dropped over 1 per cent to an intraday low of 24,737.70. However, the mid and small-cap segments outperformed with mild losses. Around 10:30 AM, the Sensex was 839 points, or 1.02 per cent, down at 81,337, while the Nifty 50 was trading 242 points, or 0.97 per cent, lower at 24,759. Here are five key reasons that could be behind the fall in the Indian stock market today: Weak global cues appear to have prompted investors to book profits. Major markets in Asia, including Japan's Nikkei and Korea's Kospi declined amid concerns that US President Donald Trump's tax-cut bill will widen the fiscal deficit of the US. Tracking weak global cues, investors are booking profits after recent gains. Around 10 AM, as many as 49 stocks in the Nifty 50 index were in the red. Foreign capital inflow appears to be losing steam. In May, FPIs sold Indian equities intermittently amid a lack of fresh positive triggers. On May 26, FPIs' buying of Indian equities stood at a meagre ₹ 135.98 crore. Declining foreign capital inflow is weighing on the Indian stock market. The current price-to-earnings (PE) of the Nifty 50 at 22.6 is above its one-year average PE of 22.15. The domestic market does not have a valuation comfort when earnings have not seen any notable upgrades. Experts expect the market to consolidate in the near term. "In the near term, the market is likely to consolidate around the current levels. Since mutual funds are sitting on sizeable cash, any dip will be bought into, and high valuations will trigger selling on rallies. A sustained rally will happen only when leading indicators suggest a revival in earnings growth. That is some time away," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments. Global uncertainty keeps investors cautious, triggering a sell-on-rise to protect their wealth. Experts highlight that looming geopolitical risks and rich valuations may keep the market on a bouncy track in the short term. "The recent market rally suggests that markets are expecting an improvement in earnings growth in FY26/27, backed by an improving macro. When seen against the backdrop of elevated valuations, I don't think markets are fully pricing in the risks of a messy, protracted negotiations of tariff and trade-related issues with the US and structural issues like low wage growth," Krishnan V R, Chief of Quantitative Research at Marcellus, told Mint. While the medium- to long-term prospects of the Indian stock market remain positive, driven by a healthy macroeconomic outlook, a forecast of an above-normal monsoon, and a strong influx of retail investors, the domestic market is struggling to sustain gains due to a lack of fresh, immediate positive triggers. The market's focus is now on the upcoming Q4 GDP prints on May 30 and the RBI's monetary policy decision on June 6. Read all market-related news here Read more stories by Nishant Kumar

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