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Bull on Dalal Street

Was it the newly installed bronze bull statue or Gate No 2 at the Bombay Stock Exchange that had share prices tumbling on January 21? Namya Sinha tells more.The Tuesday TumbleThe recovery | Pics

business Updated: Jan 25, 2008 12:17 IST
Namya Sinha

Gate No 2 at the Bombay Stock Exchange seems to be jinxed. A source from the National Stock Exchange reveals that every time the gate has been opened, the share markets have crashed drastically.

The otherwise closed door was first unlocked in 1992. And the Harshad Mehta scam followed.

Then the door was flung open in 2001 to welcome Bill Clinton. There was a major crash at the stock exchange.

Now in 2008, the gate was opened for a third time to install the bronze bull statue. The markets crashed again.

Reasons to believe
Interestingly, between 1999-2000 the markets had touched a high of 5000, celebrations were held on the rooftop of the BSE. At the time the BSE was not corporatised. Soon after the celebrations, the markets crashed. The roof-top bash was held responsible for the doomsday.

The recent blood bath in the BSE led to protests by share brokers demanding that the bronze bull be pulled down. The statue was installed on January 12 this year on the lines of the New York Stock Exchange indicating boom time in the share bazaar.

So, if it's the bull that is causing the problems then have some advise by a Vastu expert.

Geographical correction
Vikram Mehta says, "Installing a statue of a bull is very important for prosperity but since it's a bronze bull, it should be placed in the South-West direction facing the North, to get maximum benefits. If it is placed otherwise then it's high time they changed its position."