Zerodha's Nithin Kamath Slams Stock Market Closure for BMC Elections; Sameer Arora Responds

• Indian stock markets were closed on January 15 due to local body elections in Mumbai, a decision criticized by Zerodha CEO Nithin Kamath.
• Kamath argued that halting trading for local elections in Mumbai harms India's global market image and credibility among international investors.
• He cited Charlie Munger, suggesting such holidays persist due to a lack of incentive to challenge the system, hindering global investor perception.
• Sameer Arora of Helios Capital countered, questioning who is truly affected by closures and advocating for consistent logic, including opening markets on non-working days for events like the Union Budget.
• Arora also highlighted the unfairness to foreign investors when Indian markets operate on global holidays like January 1.

Why It Matters: Stock market closure for BMC elections sparks debate between Nithin Kamath and Sameer Arora over global image and fairness.