Expert view, Sept. 1 -- Sandip Bansal, Deputy CIO at ASK Investment Managers, believes earnings may pick up from H2FY26 due to good monsoons, higher system liquidity, lower interest rates, benefits from reduced income taxes, lower GST rates and lower inflation. In an interview with Mint, Bansal shared his views on Trump tariffs, short-term risks for the Indian stock market, government reforms, FPIs, and expectations from the US Fed. Here are edited excerpts of the interview:

Markets could be choppy in the short term and are likely to be influenced more by macro news flows, such as those surrounding US tariffs or government reform measures.

Near-term earnings are expected to be weak, and valuations are at ten-year average levels, with th...