Trivesh D, COO Tradejini expects volatility to continue in the near term. In an interview with LiveMint, the expert predicted that the Indian benchmark Nifty50 is not likely to hit a new high again this year. After the recent rally, it is natural for markets to take a breather and consolidate, he noted. Moreover, Trivesh suggests maintaining asset allocation, not going 100% into equity, but if you are sitting on the sidelines, this might be a good time to start allocating gradually.
1) Markets were volatile in May. Do you expect this to continue in June or do you see the market finding direction for the rest of 2025?
We might continue to see some volatility in the near term. We don’t expect the Nifty 50 to hit a new high again this year. After the recent rally, it is natural for markets to take a breather and consolidate. There are still some uncertainties around global tariffs and trade flows. Once we get more clarity on those, the market will likely find better direction.
2) What strategy should investors follow in 2025?
I had to say stay invested. Maintain your asset allocation, don’t go 100% into equity, but if you are sitting on the sidelines, this might be a good time to start allocating gradually. There could be ups and downs, but right now, the risk-reward equation looks favourable for long-term investors.
3) Should investors hold cash due to market volatility?
Holding cash doesn’t usually help, it gives you negligible returns and at times does not even cover inflation. The better question is where to invest, not whether to invest. You want to stay deployed in productive assets. It’s always about finding the right vehicle for your money.
4) What factors will drive the markets in the second half of 2025?
Short-term events like RBI policy or global headlines may move the needle briefly, but they don’t change long-term outcomes. What matters more is how companies are performing, how sectors are growing, and whether businesses are delivering steady earnings growth. That’s where the real signals are.
5) Midcaps and smallcaps were hit hard earlier this year. Has that trend reversed?
We don’t think they have really underperformed if you zoom out a bit. Yes, Q1 saw steep corrections; midcaps and smallcaps fell about 22% and 26%, respectively. But since April, we have seen a strong bounce-back, smallcaps are up 28%, midcaps around 23%. So, it looks more like a deep correction followed by recovery, not a structural underperformance.
6) What’s your take on the banking sector—PSBs vs. private banks?
Both have done well recently. Private banks rallied 17% from January lows, and PSU banks surged 25% from their March lows. For me, it’s less about choosing between PSBs or private players, it’s about valuation. PSU banks still look undervalued, and if their P/E multiples expand, they could outperform. We generally prefer shifting out of overvalued names into stocks that have room to re-rate.
7) Metals have been in focus lately. Do you see value there?
Metals are riding strong gusts. China’s policy push, a global focus on green energy, and a general increase in demand. These shifts are supportive, and they do present an investment case. But again, it depends on how policy and trade dynamics play out. It is a space to watch closely.
8) What’s your outlook on gold for the rest of the year?
Gold seems expensive right now. A lot of the global uncertainty is already priced in. We don’t see much room for it to go significantly higher from here unless there is a fresh global crisis.
9) Should low-risk investors move from equities to gold?
You should not move entirely out of equities. Instead, keep a diversified approach, maybe allocate 5–15% to gold. It is a good hedge during uncertain times, but equities still offer better long-term growth. The idea is balance, not either-or.
10) One piece of advice for new investors?
Do your research before you invest. Don’t buy just because someone else told you to. At the end of the day, it’s your money and if things go wrong, no one else is taking the hit for you.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
