BSE dismisses 'cock & bull story'
The opposition to the bull grew so much that the Bombay Stock Exchange authorities were forced to issue a statement expressing 'shock and surprise' at 'such a trivial issue that panders to superstitious belief and has been blown out of proportion.'
The exchange said that the recent ups and down of the stock markets had nothing to do with the installation of the bull by the BSE, and that index movements are an integral part of market characteristics.
In a scathing note, the BSE said: '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 reinforce the age-old cliche 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,' the exchange said.
'Our leaders, both political and business, are making efforts to make Mumbai an international financial center that has the capacity to provide financial services of the highest caliber, 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?' the bourse asked.
'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 '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.'
Image: The New York Stock Exchange (NYSE) building.
Photograph: Stephen Chernin/Getty Images
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