Monday the world tried to drag India under, and India would not go. A weekend of missiles in the Middle East and a cracked Wall Street had Korea down 9 percent and Japan down 4 by Monday morning, and our market gapped straight at 23,000. It held to the point. Nifty closed 23,123, down just over 1 percent, with a low of 23,070. Sensex closed 73,524, also off about 1 percent. The calmest house on a burning street, for a second session running.

Then overnight the world flipped again. The two sides in the Middle East signalled they want a ceasefire, and markets believed it. This morning Korea is up three and a half, Taiwan up over two, Japan up almost one. Oil that had spiked toward 96 is cooling back to about 93.6, and GIFT Nifty sits near 23,133, pointing to a flat open. Today is Nifty weekly expiry, and the calm is arriving at exactly the wr ...