Mumbai. The national sensitive index for love and romance nosedived today on the opening day of the week following Valentine’s Day, losing at least 629 points in just a couple of hours from the closing point it registered yesterday riding on the maudlin wave of valentine week.
The sensex is expected to fall further by the end of the day today as romantic feelings are set to precipitate to the pre-valentine’s level across the country.
“It’s going to be mayhem in the market,” said Mayank Premi, a leading broker who also owns an Archies gift shop in Andheri, “I sold a lot of cards and soft-toys yesterday when lovers were bullish on market sentiments, but never knew the market would turn bearish so soon. Blame it on the teddy bears!”
An overwhelming majority of traders, better known as lovers, confirmed a sudden decline in their romantic feelings this morning, which apparently led to the market crash.
“I woke up and saw the huge card and the humongous bouquet Ravi had sent me yesterday,” Elina, 21, recalled her feelings this morning, “And I suddenly thought – what the fuck am I going to do with this crap now? The flowers in the bouquet had already wilted.”
Elina was successful in dumping off the card and flowers to her raddiwaala, who had come to buy her old Bombay Times and Femina magazines. Raddiwaala paid her 10 rupees extra for the stuffs, which were bought for an estimated 1500 rupees by Ravi the previous day.
“This is panic selling,” explained Premi, “And we are scared that this could be repeated all across the country. Unfortunately we can’t even put circuit breakers in this market. The government should intervene and put some trading curbs.”
While the market trend has shocked many, some analysts believe that the phenomenon is not so uncommon or unexpected, and it reflects the “reality” of the market.
“The underlying assets are losing its value,” equity analyst Amresh Akela explained, “The market is manipulated and manufactured by some greedy brokers as they build up and inflate expectations around Valentine’s Day and people end up with bad investments, only to realize the following days.”
Experts also believe that the absence of “market makers” like Shiv Sena and Sri Ram Sene could also have contributed to this year’s crash.