The bloodbath on the Street on Tuesday spurred many a wisecrack from the investor community.
At a time when politicians are slugging it out on the cost of a decent meal for the poor in the country, brokers’ sarcasm hit a new high with caustic SMSs flying thick and fast through the investor community.
“What will you get for Rs 90? — Infra pack: HCC + IVRCL + NCC + GVK + GMR + LITL (Lanco Infra) + Madhucon + Punj Lloyd = Rs 90! Great India growth story,” said one such SMS.
“One day, it is the tightened liquidity; another, it is lack of genuine successful trading opportunities. In case, you still manage to survive, manipulators take care (to see you (investor) dead...,” read another SMS.
“It was complete bloodbath and everything melted as ice, complete power cut at Tata Power,” said one such message. Tata Power crashed 15 per cent after its Q1 numbers were announced.
Some other wisecracks went as follows: “These days, it is never the right side, either on the long or short side, coz’ the Fin’ Minister takes the cake, if not the RBI Governor.”
“God save the Indian traders/ investors, coz’ even the Govt is working overtime against these poor creatures.”
While Twitter is not exactly buzzing with stock market enthusiasts making witty comments on the crashing market, Madhu Menon þ@madmanweb2h tweeted:
“I go away for lunch and the stock market has fallen a couple of hundred points more. ***?”
HAYC, a user commenting on the Moneycontrol message board, had this observation on Hindustan Copper “Jindabad Jindabad Chiduji Gold Ko Pittal Banane Me.” (Long live Chiduji for converting a golden scrip into copper).
Hindustan Copper, a PSU scrip, was Rs 250 on August 6, 2012. It crashed to its all-time low of Rs 42.3 on Tuesday before recovering to Rs 48. This means that an investor who bought this share a year ago has seen his capital eroding by over 80 per cent.
On the BHEL message board, there were messages of gloom and doom and predictions that this once proud Navratna would come down to Rs 40.
“Bhelpuri,” was one comment!
“Don't ever marry a stock-broker/trader. They are going to come to grief sooner than later...”