SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD FEB 05
MCX SILVER MAR 05
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD FEB 05
MCX SILVER MAR 05
MCX CRUDEOIL JAN 19
MCX NATURALGAS JAN 25
USD/INR
EUR/INR
GBP/INR
JPY/INR

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Economy

Equity markets doing what they should be doing, pricing in bad news, says Richard Harris

Updated : March 24, 2018 06:29 AM IST

President Donald Trump on Friday targeted China with up to $60 billion in Chinese import. The new measures are designed to penalize China for trade practices that the Trump administration says involve stealing American companies' intellectual property.

Sharing his views on the same, Richard Harris, Chief Executive, Port Shelter Investment Management said, "I think the equity market is probably doing what the equity market should be doing. It is pricing in that bad news."

"My feeling is that there is still a Goldilocks scenario in the US economy, you still have to be bullish on equities", he added.

However, stating that there wasn't much clarification on whether "the USD 50 billion everyone is talking about is the tariff base or is the total amount of tariff", Jahangir Aziz of JPMorgan said, "They are going to reveal the list of items which is going to run into thousands on which they will impose 25 percent tariff. We, like everyone else, are assuming that the base of tariff, the value of all those thousand odd items is going to be USD 50 billion."

Aziz further said that global investment was going to be slower than what was expected before and therefore it will necessarily have an impact on global trade.

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Closing bell: Sensex, Nifty end over 1% lower; IT stocks drag

Closing bell: Sensex, Nifty end over 1% lower; IT stocks drag

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