How does this artwork elucidate its Controversy?
The sculpture came into news after the stock market crash of January 2008, when the Sensex lost 14% in two days and ₹180,000 crore (equivalent to ₹5.0 trillion or US$63 billion in 2023) in a week, along its year-long descent from 20,000 to 8,000. The bull was subsequently considered as a panvati or bad omen. Several brokers demanded the removal of the sculpture during the crash, with an astrologer suggesting that it be re-installed at a more auspicious time. A group of 200 to 300 brokers protested outside the exchange for a day asking for it to be removed.In 2017, prior to its relocation to GIFT City, the BSE decided to allow visitors to photograph the bull. However, due to security issues, it was replaced by an acrylic replica on rollers outside the exchange. The Municipal Corporation of Greater Mumbai (MCGM) objected to this, claiming that it was inconveniencing people on the road and asked for it to be removed.
Municipal Corporation of Greater Mumbai Sensex GIFT City Mumbai stock market crash of January 2008