“Inflation has stopped being a trigger event as far as the capital markets are concerned. The market has already factored in that inflation will remain in an acceptable range and will keep coming down in the coming weeks,” said Jagannadham Thunuguntla, head of the capital markets arm and director of India’s fourth largest share brokerage firm, the Delhi-based SMC Group. “The markets gave up profits by the middle of the day. We still have some more pain to face in the markets as investors have to recover confidence in the system,” he added.