Holistically the markets move in cycles and it has the tendency to be forward-looking. Therefore, both the good and the bad news gets discounted before it has truly occurred. The news that the West could go into recession is no longer ‘NEWS’. It has been fairly discounted by the market like it had discounted previous major events.
Mcap of top-10 most valued firms slumps Rs 4.95 lakh cr; TCS, Reliance hardest hit
The combined market valuation of all the top-10 most valued firms plunged Rs 4,95,061 crore last week, in line with a bearish trend in equities,