What is Bear in Stock Exchange?

Bear: Bear is a speculator on the stock exchange. He expects a fall in the price of
securities. In order to take the benefit of future situation, he agrees to sell for delivery
on a fixed date such securities which are not in his possession. Before the delivery
date, he purchases securities at a lower price and settles his deal at a higher price
and earns profit (provided his calculations prove correct). A bear is also called
“Mandiwala” on BSE. A’bear market is one in which the prices of securities are going
down.