There has been a persistent media (both print & electronic) interest and stories on the new bull sculpture that was unveiled at the Bombay Stock Exchange premises on January 11’ 08. A section of the media attributes the fall of the SENSEX to the installation of the bull. We are indeed shocked and surprised that such a trivial issue that panders to superstitious belief has been blown out of proportion.

The current ups and down of the SENSEX has nothing to do with the installation of the bull by BSE. As a matter of fact the index movements are an integral part of market characteristics.

In the olden days India was perceived as the land of ‘rope tricks’ and ‘snake charmers’. By indulging into such propagation of a non-scientific theory, we are only trying to re-inforce the age-old cliché of India’s superstitions and backwardness and not the ‘modern’ country, which we are today.

It has taken years of concerted effort by the Government and the people of India to change this into an image of a nation having skills and expertise in the sphere of science and technology, IT, software, academics, business and entrepreneurial enterprise and modern day finance.

Our leaders, both political and business, are making all efforts to make Mumbai an international financial center, which has the capacity to provide financial services of the highest calibre and benchmarked to international standards. We are aghast that by giving undue importance to such trivial matters, are we serving the interest of India’s global aspirations ??

We strongly believe that it is the collective responsibility of all citizens of India including the media to contribute their might to make India a financial powerhouse by keeping the perspective in the right place. Instead of discussing the sentiments in the market (which incidentally have affected the whole world), the media has taken upon itself to ‘educate its readers / viewers about the ‘ill -effect of the bull’. We request the media not to indulge in the ‘cock and bull’ story !!

We hope better ‘sense’ will prevail over ‘sensationalism’ so as to bring ‘real’ news and information for the benefit of readers / viewers and to contribute in the growth of the nation and its economy.