Big Bull’s Drive Towards The Big Crash

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Set on fire by the ‘big bull’, Harshad Mehta, Sensex witnessed its first ever major bull run in the year 1992 by surpassing the 2000 mark on January 15; 3000 on February 29; and 4500 at the end of March 1992. But the rally came to a halt with news breaking out of a major scam and Mehta going to jail; markets crashed like never before, from 4500 to 2500. In fact, on April 28, 1992, the Sensex registered its biggest single day fall till date by losing 570.42 points; markets remained closed for five days thereon. The scam also exposed the intermeshed brokerbanker nexus.

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Source IIPM-Editorial,2006