Mkt rally unlikely to sustain for long: Jim Walker

Here is a verbatim transcript of the exclusive interview with Jim Walker on CNBC-TV18. Also watch the accompanying video.

Q: Is the market running a bit ahead of fundamentals?
A: The truth is that a lot of stock markets have run ahead of the real fundamentals in the global economy. Understandably, there was such a lot of pessimism around and people were beginning to draw straight lines in terms of downward direction of the economy, direction of markets, and that was overdone. So it is not really that surprising, there has been a bounce in markets. Whether that bounce is really sustainable and it is true that things have run up a bit far for the global stock markets as well as the Indian stock market.