Zerodha CEO Nithin Kamath Slams Stock Market Closure for BMC Elections

• Nithin Kamath, Zerodha founder, criticized the closure of Indian stock markets on January 15 for local municipal elections in Maharashtra.
• He called the decision 'poor planning' and highlighted its negative impact on India's global image and credibility.
• Both BSE and NSE were fully closed for equity, derivatives, and SLB trading; commodity derivatives resumed in the evening.
• Kamath questioned the wisdom of shutting down globally linked exchanges for a local election, citing a lack of understanding among policymakers.
• Invoking Charlie Munger, he argued the holiday persists due to a lack of incentive to stop it, hindering India's image as a serious economy.

Why It Matters: Zerodha CEO Nithin Kamath criticized the stock market closure for BMC elections, citing poor planning and global image damage.