The Indian stock market witnessed a bloodbath on Monday, August 5, with both the headline indices – BSE Sensex and NSE Nifty – closing in the red. Amid this financial turmoil, Ashneer Grover, the former co-founder and managing director of BharatPe, shared his unique perspective on the situation through the social media platform X (formerly Twitter).
In a creative twist, Ashneer Grover adapted the lyrics of a popular song by Punjabi artist Karan Aujla to reflect the current market sentiment. His post read:
Karan Aujla – latest lyrics :
Sunla ve ditto same chahidi
Ah le photo ve ‘MARKET’ laal di
Chunni meri rang de lallaria
Ve chunni meri rang de lallaria
Mere yaar di ‘PORTFOLIO’ de naal di pic.twitter.com/RFM1kMM7xd— Ashneer Grover (@Ashneer_Grover) August 5, 2024
Ashneer Grover also shared an image of the Nifty 500 index, highlighting the performance of various sectors, including Finance, Technology Services, Producer Manufacturing, Consumer Durables, Non-Energy Minerals, Energy Minerals, and Utilities. The image vividly depicted the widespread decline across these sectors.
Bloodbath At Dalal Street – Stock Market Performance on Monday
- The Sensex dropped by 2,222.55 points (2.74%), closing at 78,759.40.
- Similarly, the Nifty fell by 662.10 points (2.68%), closing at 24,055.60.
The primary cause behind this market plunge is attributed to a ‘global sell-off,’ driven by the US Federal Reserve’s decision to maintain interest rates between 5.25% and 5.50%.
In response to his post, one user empathized, saying, “Get your pain, Bro! Happened with me too. Overall down 2.5% today.”
Another added humorously, “Sunla ve, same chahidi, but make sure that ‘MARKET’ photo isn’t in the clearance section. And my chunni? It’s so red, even tomatoes are jealous! Plus, with my yaar’s ‘PORTFOLIO,’ we’re rolling in style—stocks and swag, baby!”.
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