I was livid when brokers wanted sculpture removed: Bhagwan Rampure

In most part of the world, criticisms outnumber accolades. Mumbai is no exception.

In January 2008, when Sensex began its downward journey, brokers and traders at Dalal Street had become impulsive and blamed an inanimate object — a one-tonne bronze bull installed outside Bombay Stock Exchange — for its fall from 20,000 to about 8,000. They had even sought the removal of the sculpture.

Bhagwan Rampure, the sculptor, also got his share of bad words.

Over the months, the Sensex has clawed back and reached near its all-time high. Now, brokers have become rational. They attribute the upsurge to the country’s strong economic fundamentals. The ‘panvati’ (jinxed) bull has been conveniently forgotten.

“I was expecting a long queue of people wanting to congratulate and thank me for my sculpture. If they can call the bull panvati when the market crashed, they can surely give me and my creation some credit when it [the Sensex] has risen to a record high,” said Rampure.

After the Sensex crashed on January 23, 2008, at least Rs1,80,000 crore was lost in a week’s time. While sane voices ascribed the loss to systemic failure, several brokers had sought removal of the shiny bronze ‘panvati’ bull, measuring five-foot-high and eight-foot-long, holding it responsible for the onslaught of ‘bears’.

“I was livid when they started asking for the removal of the sculpture. These weren’t some illiterate villagers; they were well-educated stock brokers. These were people trading in stocks at the global level and yet they believed some mumbo jumbo on how the sculpture had caused the crash. It was like everyone had forgotten how to behave rationally,” the Sholpaur-based artist said, adding that he told the authorities they were free to remove it if they wished.

“Luckily, after consulting a vastu expert, they gave up the idea of removing it and shifted it,” Rampure said, adding that he had taken about three months to create the sculpture in 2007.
Ironically, a month ago, the BSE approached Rampure for making miniature models of the BSE with the bull to be given as souveneirs and corporate gifts. “I am in the process of making sketches for the miniature model,” he told DNA.