What are big risks for markets in second half of 2021?

The pandemic crisis deteriorating in India especially in the last few months and delayed economic recovery due to localised lockdowns had very little impact on equities. Investors continued to pump money into equities, making it the best performing asset class in the first six months of 2021. However, with the V-shaped recovery in global economy, inflation fears as reflected in surging commodity prices have resurfaced. Will the Federal Reserve take its foot off the pedal and taper its stimulus policies? If so, would the bullish sentiment reverse its course? To understand that I am joined by Shibani Kurian, senior EVP, Head of Equity Research, Kotak Mahindra AMC.