New Delhi, Feb. 8 -- Last week, I wrote that the markets would experience above-average volatility, and the market validated it. I believe volatility will likely persist. However, there are early signs of optimism, as market data shows accumulation on dips. Last week, I warned you about the sharp sell-off in bullion, which triggered selling across other asset classes. That phenomenon was in evidence in the first half of the week. News of a possible quick resolution of the US-India trade impasse cheered markets in the second half of the week.

What seems to have gone unnoticed by most market players is the announcement by the Reserve Bank of India (RBI) governor on incorporated companies. Earlier incorporated companies were governed by the...