Stock Market is affected by lots of factors the main one being greed and gambling instinct of investors. The market is created to raise capital for business enterprizes. However once shares are sold or on the market then their price has no affect on the business unless business was or is planning to issue more shares to raise some capital. Market goes up when pple think the market (economy ) will do well. it goes down when pple who have made good profit decide to take money and use it some where else or they think for the near future they can get better returns some where else.
In any event in a country where total tax payers or less than a million one can guess there can not be more than 5 million private investors in the market therefore all the fuss is over nothing.