'Hum Sehwag hai, pitch Multan, bowling Pakistan': Nilesh Shah's take on bull run in stock market

If there was the perfect metaphor to explain the bull run in the stock market, Indian batter Virender Sehwag’s triple century in 2004 against Pakistan would be it. Cricket and Sensex will always remain on the tip of the tongue of Indians, after all!

Nilesh Shah, MD and CEO of Kotak Mahindra AMC, explained the unbelievable run of Sensex topping 70,000 and Nifty at 21,000 in the most layman-worthy words ever at the BT500 Wealth Creators Summit on Wednesday.

When asked about his opinion on everything in terms of goodness reflecting in the markets now, Shah said, “I feel like I am in Multan, Pakistan in 2004” as the audience cracked up. “Samajhdar ko ishara kaafi hai (an indication is enough for the wise),” he said.

“On 20th March 2004 in Multan, Sehwag started batting and hitting Pakistanis out of the stadium. If I remember correctly, he scored 300 runs…the first 100 before lunch, next 100 between lunch and tea, and next 100 between tea and end of the day. He scored a six at 294 after (Sachin) Tendulkar told him be careful, you can score a triple century. So, he scored a six on the next ball. That’s how I am feeling now,” he said.

“Hum Sehwag hai, pitch Multan jaisi hai, aur bowling Pakistaniyon jaisi hai. Kahin pe bhi maaro, run ban rahe hai (We are Sehwag, the pitch is like Multan’s, and bowling is like the Pakistani’s. Wherever you hit, you are scoring runs),” said Nilesh Shah to an applauding audience.

The BSE Sensex crossed the significant threshold of 70,000 points for the first time in history bolstered by strong macroeconomic data, a drop in crude oil prices, favourable global interest rate outlook and resurgence of foreign inflows.

He however also advised a note of caution. Shah said that at the same pitch Rahul Dravid played rather uncharacteristically and scored a fast 6 off 10 balls. “Phir woh out ho gaya (he was out soon after),” said Shah. “Don’t play like Dravid on Multan pitch and play like Sehwag on Multan pitch,” said Shah, calling the bull run too good to be true.

In Multan, Virender Sehwag became the first Indian to hit a triple hundred in Test cricket against Pakistan at their home ground. He then went on to break his 2004 record in 2008 on the same date in the first Test against South Africa in Chennai. Sehwag is the only batter along with Don Bradman, Brian Lara and Chris Gayle to score a triple hundred more than once in Test cricket.

Also read: Sensex scales Mt 70K. Here is what investors should do