Sensex fell after two of the past three pay panels

Two out of the last three times, the BSE Sensex fell on the day following submission of the 7th Central Pay Commission report, data compiled by BS Research Bureau showed. The BSE Sensitive Index came into use on January 1, 1986, the same day as the 4th Pay Commission recommendations took effect. The Sensex has since seen three pay panels.

First was the 4th Pay Commission, which had the unique distinction of submitting three recommendations. On May 12, 1987, a day after the last of the three reports of the fourth pay panel was submitted, the Sensex fell from 485 points to 476 points. The nine-point fall in the index amounted to 1.85 per cent loss to investors.

Almost a decade later, the 5th Pay Commission submitted its report on January 30, 1997. The next day the Sensex fell 127 points from 3,510 to 3,382 points. This was a fall of 3.63 per cent.

Investors were luckier on March 25, 2008. Though the Sensex had fallen off the peaks of January 2008 on global sub-prime crisis fears, it had one of its best days after Justice Srikrishna-headed 6th Pay Commission submitted its recommendations.