Are really Markets react because of Fundamental News?

There will be always good and bad news flowing in the markets. Media always highlight the news if there is any rally or correction in the market. Does really market react for these bad or good news.  when there is a correction in the market, the correction is being attributed to the bad news at that time.

But if we could see other news that came on that day, you could come to know that there were good news at that time also. But the media completely ignore the good news and highlight the bad news as the action in the market is down.

 

Likewise, when there is a big rally in the market, it is being attributed to the good news that is coming at that time. But if we check the other news, we could see some bad news also. But the media would highlight the good news, because, the market is up at that time.

When Tsunami came to the shores of most of the Asian countries, and took the lives of more than 3 lakh people, the Indian Stock Market rose substantially on that day. Normally, Market should have come down on that day for the bad news. But it actually rose.

This shows that market never care for the fundamental news. It is always taking its own technical course, irrespective of good or bad news.