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The Indian stock market on Monday (August 5) had a bloodbath at dalal Street, with both the headline indices BSE Sensex and NSE Nifty closing on a red note.
Ashneer Grover's Take on Social Media
Amid this 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.
He posted a creative twist on the lyrics of a popular song by Karan Aujla, reflecting 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"
Grover also shared an image of the Nifty 500 index, which highlighted about the performance of various sectors such as Finance, Technology Services, Producer Manufacturing, Consumer Durables, Non-Energy Minerals, Energy Minerals, and Utilities. The image vividly depicted the widespread decline across these sectors.
Nifty 500 index | Ashneer Grover/X
Bloodbath At Dalal Street - Stock Market Performance on Monday
The Sensex on Monday dropped by 2,222.55 points, or 2.74 per cent, ending the day at 78,759.40. Similarly, the Nifty fell by 662.10 points, or 2.68 per cent, to close at 24,055.60.
Global Sell-Off
The primary cause behind this market plunge is being attributed to a 'global sell-off,' driven by the US Federal Reserve's decision to maintain interest rates between between 5.25 per cent and 5.50 per cent.
Netizens Reaction
An X user responding to Grover's post wrote, "Get your pain Bro! Happened with me too. Overall down 2.5% today."
Another added, "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!"
