What we have been seeing is the market going steadily down or up. A 1% move is considered “big” nowadays. But it’s not really big, is it?
The Number of “Big” days on the Nifty
A 2% day – in either direction – would be big nowadays. But such days were quite common earlier; it’s just that the last five years have been benign.
This coincides with the period of worldwide QE – quantitative easing – where the world central banks flooded the markets with cheap money in order to keep them stable. Now, remember, that phase may be at an end. Expect fireworks from 2016?