Published On:Friday 16 March 2012
Sensex Update: Sensex turned negative after investors started watching Sachin Tendulkar's knock
Investors bored with budget commentary
The Sensex, India's most tracked benchmark capital index lost sharply after 2 p.m. when Sachin Tendulkar settled in his batting, as investors switched off CNBC TV18 to Doordarshan. Market sources attributed it to a two way effect of tremendous interest in watching Sachin's 100th century and bored with bullshitting of stock market experts on Union Budget 2012-13.
The Sensex which was around 17,750 levels at around 2.15 p.m. lost more than 300 points within an hour, after many investors asked bolt operators to switch off CNBC TV 18 and ET NOW to start cricket match where Sachin was playing with a new vigour. Though, TV Anchors such as Udayan Mukherjee and many stock market experts protested this switch, investors told they wanted to avoid any more rape of their ears and eyes by TV anchors and these experts.
Udayan Mukherjee said "I was just astonished to see all my intra-day positions were in red which I invested expecting huge gains after budget. Everything was fine till 2 p.m. even investors forget useless budget and kept the markets in positive territory but this Sachin's fiasco took us to hell."
SP Tulsian said "Today, when I had an opportunity to talk on Budget, I witnessed lack of volume and stock reactions made me feel that I should not throw my precious words to investors so I deferred my interview."
Udayan said "I just want to complain it to SEBI and wants my funds fully recovered whichever I lost in the intra-day. SEBI should at least ask Sachin who is going to earn huge money after this record to payback some amount to me."
A source told Diggy Chacha Fan Club (DCFC), investors forgot totally negative, irritating and zero gain (no not zero loss) budget till around 2.15 p.m. when news came that Sachin is playing beautifully. All investors on various bolts asked bolt operators to switch off business news channels and start sports channel to witness a great knock from Sachin Tendulkar. This suddenly dried up the volume in the market and the index plunged on the lack of interest from the investors.
Chintan Shah, a wholetime investor told DCFC reporter "I was getting bored with that ridiculous and boring budget commentary. Whatever I knew that the budget was hopeless, these experts were talking the same thing but some different ways using financial vocabulary. But Sachin's knock made my day."
Pranab Mukherjee congratulated Sachin Tendulkar by saying that he was very much thankful to shift focus on Pranabda and his budget to himself.