The current market rally may soon run out of steam: Unmesh Kulkarni

As of now, we expect the global recession will be deep but short, and the fiscal and central bank actions should mostly prevent a financial and economic meltdown

It has mostly been a one-way street for the Indian markets from their March lows. UNMESH KULKARNI, managing director and senior advisor, Julius Baer India, tells Puneet Wadhwa that though the worst may be behind us, the equity markets will likely witness a U-shaped recovery as they need time to assess the damage and assimilate negative data points emerging over the coming weeks. Edited excerpts:

Can the markets sustain at these levels?

The intensity of the lockdown in India is likely to take a toll on the country’s gross domestic product (GDP), as well as earnings of Indian companies, and