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​So, certainly there is going to be a reality check. There is a lot more important US data coming out, particularly today, the ISM services number and then, yes, going on in the week as well which will give us a reality check on really how bad is the US economy faring and whether we should really be expecting the Federal Reserve to cut rates by 50 basis points in just one meeting in September or over 100 basis points through to the end of the year.

Global Capability Centers in India have experienced substantial growth over the past decade. From FY15 to FY23, GCC revenues grew at a CAGR of approximately 11%, while the top 5 IT services companies saw an 8% CAGR in revenue, albeit from a much larger base. This growth is also evident in headcount additions. From 2010 to 2023, GCC headcounts increased at a CAGR of 12%, compared to 8% for the top 5 IT companies during the same period.

So, the medium-term trend is definitely disrupted and it could trend lower. It is all news driven right now. As the news flow comes in the global market that is how the markets will pan out. But if we talk about the very short term, then Nikkei is down 28% in one month. If there is any short covering rally over there, we can see a short covering over here as well.

Glenmark Life Sciences, Hindustan Unilever, and Lux Industries saw their shares rise as Nifty and Sensex dropped over 3% on Monday. Glenmark soared 6.3%, Lux Industries increased 5.5%, and other stocks like Marico and Britannia posted gains. Market volatility persists amid global economic concerns and geopolitical tensions.

Fearing a US recession, investors fled riskier assets, leading to a significant drop in Indian equity markets. The Sensex plummeted 2,600 points and the Nifty fell below 24,000 in early trading, due to heavy selling pressure on blue-chip stocks.

The stock quoted a 52-week high price of Rs 4295.2 and a 52-week low of Rs 2372.2.

Stock markets tumbled on Monday as fears the United States could be heading for recession sent investors rushing from risk while wagering that rapid fire rate cuts will be needed to rescue growth.

The benchmark TA-35 Index slid as much as 3.1%, before trading 2.6% lower as of 10:24 a.m. in Tel Aviv. The gauge had slid 3.3% last week and is now at the lowest since February.

On the technical charts, the RSI of the stock stood at 30.46.

​Similarly, in India, we see certain pockets of exuberance. We believe this is a market where we need to be absolutely sure what not to invest in and clearly, there are pockets where you need to avoid, otherwise it will lead to permanent loss of capital.