The man who made the bronze Big Bull, installed outside the Bombay Stock Exchange, has said the sculpture is being unfairly blamed for last week's market crash. "It is all superstition. I pity people who are holding the sculpture responsible for the crash," Solapur-based sculptor Bhagwan Rampure told PTI.

His comments follow reports in a section of media that several brokers had sought removal of the bronze figure, holding it responsible for the onslaught of 'bears' last week.

"I don't have any objection. It is BSE's property now and if they want, they can shift it slightly," Rampure said responding to reports that the position of the Big Bull would be changed to appease the brokers who even went to the extent of calling the sculpture a 'panuati' (bad omen) after the Sensex came tumbling down.

The Bull was installed amid fanfare, outside the imposing building of India's largest stock exchange on January 11. It is five ft high, eight ft long and weighs over a tonne. The inspiration came from the Wall Street bull installed in New York 19 years ago.

"The market crash soon after installation of the Bull is a coincidence. People should see the sculpture as an artistic creation," Rampure said. "The stock exchange bull is a symbol for money and power and that is why the charging position of the bull was retained," Rampure, who was given pictures of the Wall Street bull before beginning his work, said.

"It is a question of one's beliefs. Based on the advice given by a big astrologer, there was a demand to change the direction of the sculpture and reinstall it on a fresh 'muhurat'. I have agreed to this as a sculptor," he added.

The bronze Big Bull outside BSE stands in a charging position

Photograph: Pal Pillai/AFP/Getty Images

PTI