Market Discount On US Tariffs Just Short Term? Kotak AMC's Nilesh Shah Answers

Nilesh Shah believes the markets will be volatile and choppy, reacting to events such as the onset of the US trade tariffs. He warns that if the tariffs escalate, with other nations joining in or new sectors like pharmaceuticals being included, a market correction would be inevitable. Going forward, Shah expects the market trend to be dictated by corporate earnings rather than valuations and reratings, making the pickup in earnings after a subdued Q1 a key factor for the market's future direction.