Recent upmove in global equities mirrored a bear-mkt rally: Unmesh Kulkarni

'Domestic flows are showing signs of fatigue and may not enjoy the same momentum as in the recent past, especially in the backdrop of increasing global uncertainties'

It has been a choppy phase for global equity markets since the US Federal Reserve (Fed) hiked rates sharply in September. Unmesh Kulkarni, managing director and senior advisor at Julius Baer India, in conversation with Puneet Wadhwa says the downside in Indian markets may be limited due to relatively superior economic and earnings growth momentum. Edited excerpts:

Can global markets go back to their June lows, or dip further?

US markets (S&P 500, Nasdaq 100) are already testing June lows. The rally since mid-June was fuelled by improved sentiment over the fall in oil/commodity prices, as well as expectations that