If Trump rhetoric continues, expect more market volatility; pharma may see a bounce back: Mayuresh Joshi

Mayuresh Joshi, Head Equity, Marketsmith India, says Trump’s announcements are on everybody's mind, but if this lingers on with the absolute stance that president Trump has reiterated and that continues in a rhetorical fashion for the next few weeks without any negotiations on the table across a lot of different economies, we are going to see a lot more volatility in the equity markets.
Joshi says Trump will bring a lot of countries on the negotiating table over the next few weeks and a few sectors like pharmaceuticals might not get the brunt as the markets are fearing. So, pharma, which has got beaten down as far as US exports are concerned, might have a respite in terms of Indian exports and should show a smart bounce.


What is the overriding thought in the Indian markets right now about Liberation Day and what could really be brought in the worst fears that market men are contending with right now?
Mayuresh Joshi: Two things, there is huge uncertainty of what will come through and therefore how the rhetoric in terms of the Trump tariff plan gets implemented, which sectors are probably going to get affected, and how are countries going to get taxed is going to be the foremost important facet that the markets will probably look at.

The markets are way too jittery getting into this event. The only question in the markets’ mind is if this rhetoric continues with the absolute stand that President Trump has taken and if there is a reciprocal tax that happens across nations as we speak, then what happens to global