NEW DELHI: The week gone by was a truncated one for Dalal Street, yet it was anything but dull. In many ways, it was a week of high-power action.
Even as the domestic equity indices oscillated between highs and lows, the rupee became the talk of the town, as it did a seesaws dance before plumbing its lifetime low of 70 against the dollar.
In times like this, whatever finds its way to newspaper headlines does so after making a stop at Twitter en route. This is exactly what happened with the rupee too.
From macro-economic arithmetic to debates over real and unreal value of the domestic currency to guru 'gyan' and smart one-liners, the domestic unit hogged all the limelight within those 280 characters on the timelines of D-Street biggies.
Mr Funny Bones, aka Samir Arora, played a trick on Twitterati, by asking them to find out by how much the rupee has depreciated.
Time to ask this old question: If INR depreciates from USD=Rs. 50 to USD= Rs. 70 by how much has INR depreciated?
— Samir Arora (@Iamsamirarora) 1534334994000
Well, if you want the answer to that question, check this out:
Many people got it correct. Rajat below has explained it well. USD has appreciated by 40 pct INR has depreciated… https://t.co/BSc4chCEeJ
— Samir Arora (@Iamsamirarora) 1534336095000
And standing true to his reputation of coming up with the funniest views on any situation (a scroll through his timeline will verify this), this is what he made of the rupee weakness:
If rupee fall is a good thing, Lira fall-by extending the logic- must be a VERY good thing.
— Samir Arora (@Iamsamirarora) 1534386665000
Previously when we had episodes of INR weakness one could say that one reason was people were importing gold ( so s… https://t.co/jrr8vFOUEg
— Samir Arora (@Iamsamirarora) 1534416042000
And if you are the serious type and the rupee situation has really got you worried, smallcap czar Porinju Veliyath and industry veteran Sandip Sabharwal had enough food for thought.
Sabharwal straightaway put the blame on global factors and declared that this rupee fall is in your favour.
The panic mongering around INR at 70 to the USD has to stop. The general public needs to know that it is not due to… https://t.co/tC8n3ZWXTc
— sandip sabharwal (@sandipsabharwal) 1534258716000
India & her Currency are Septuagenarian now! INR has been stable in the given global environment – All Is Well.
— Porinju Veliyath (@porinju) 1534224941000
Sabharwal then went on to do another interesting thing: calling out Narendra Modi's Make in India to make the most of the opportunity in hand.
The increase in Trade Deficit is largely due to #MakeinIndia not taking off Coal imports of $ 2bn a month Veg Oil i… https://t.co/H548UJB1bs
— sandip sabharwal (@sandipsabharwal) 1534393976000
Plus, he also had something cryptic to say about the crypto-market, but had no hope to offer to bitcoin lovers.
The total market capitalization of all #cryptocurrency that exist has collapsed from $ 800 billion plus in January… https://t.co/EbWsMebsso
— sandip sabharwal (@sandipsabharwal) 1534310531000
Meanwhile, Nifty and Sensex danced at the peak, conquering one mountain top after another, and market veterans eternal valuation puzzle was spilling all over Twitter.
Industry veteran Basant Maheshwari turned a little philosophical, mixing up market and life lessons for those caught gaping by the marauding bulls.
Street signs:
The best time to buy expensive stocks is when they are getting more expensive. Such stocks dont get cheap unless t… https://t.co/M8KjS9c7CI
— Basant Maheshwari (@BMTheEquityDesk) 1534503596000
Some stocks have to be reduced not removed. Its not always about the money but the ease with which your Jockey… https://t.co/gMhKjw5qyC
— Basant Maheshwari (@BMTheEquityDesk) 1534220361000
Life & lessons:
If your wealth isnt making your life better than there was no point giving your life – to make wealth in the first… https://t.co/8cj1RmAMsw
— Basant Maheshwari (@BMTheEquityDesk) 1534349938000
Still think markets are boring? Bet on us to bring out the funnier side even as those in the know make money and Tweet away to glory.
Happy Weekend!
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