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Gloom on Dalal Street as boom turns bust

Very few step out of BSE for lunch on 'Terrible Tuesday'; iconic street wears deserted look

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A man looks at the ticker at the BSE building on Tuesday
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The otherwise bustling Dalal Street, the address of the Bombay Stock Exchange, appeared to be in a state of mourning on Tuesday when Sensex lost 1,100 points. It looked deserted with fewer number of people looking at the ticker on the giant screen outside BSE. Even lesser number of people stepped out for lunch in the afternoon.

'Terrible Tuesday' was the word of the day for people working in and around Bombay Stock Exchange, it was the third working day after the Union Budget was announced and the slide in the market continued disappointing a lot of investors.

Experts have predicted that the market may continue to wear the cloak of disappointment for 15 more days. A P Shukla, a share market expert, who has his office in the next lane of BSE, looked disappointed with the trends in the BSE. He said, "I wouldn't suggest people to buy, people tend to buy when the market is low, but I wouldn't suggest it. The market shall remain in the same situation for the next 15-days and post that seeing the market conditions people should decide. The global market clubbed with the budget announcement are the reasons for the market performing this way."

Sunil Shah, another expert who has seen several ups and down in the share market including the highs in 90s, said the mood of the market depends a lot on the stock movement in the US.

"The markets in US closed at a low on Monday. The impact is visible here, even Asian markets when opened they also saw a low. More than the budget announcement it is the global phenomenon to which the markets have reacted."

The crash affected the business of street food vendors in the vicinity. It was post noon, and people like Vinod Gupta, who sells lunch, fear loomed that not many would turn up. "Whenever the market is low, the turnout for food is less. I am a little inside of the road so business is not that good. But today it will be poorer."

'TERRIBLE DAY'

  • ‘Terrible Tuesday’ was the word of the day for people working in and around Bombay Stock Exchange 
     
  • It was the third working day after the Union Budget was announced and the slide in the market continued disappointing a lot of investors
     
  • Sensex lost 1,100 points on Tuesday 

 

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