'Market rally shifting from being liquidity-driven to earnings-driven'

If GST won't lead to disruptions in economic activity, we should see earnings recovery: John Praveen

John Praveen, managing director and chief investment strategist at Pramerica International Investments, tells Vishal Chhabria the recent stock market correction is due to high valuations, strong year-to-date market gains, geopolitical tension and profit-booking by investors. However, the trend remains positive. Edited excerpts:

Markets globally have corrected recently. Do you see a further decline? 

Global stock markets sold off in early August amidst heightened geo-political tensions between the US and North Korea. Additionally, President Trump’s political troubles have increased, which in turn have raised doubts about whether the Trump reflation agenda (tax cuts, reduced regulations and increased infrastructure spending) might get