Nithin Kamath Slams Stock Market Holiday for Mumbai Civic Elections

• Zerodha co-founder Nithin Kamath criticized the decision to close Indian stock exchanges for Mumbai's municipal elections.
• Kamath stated that shutting markets for a local civic election reflects poor planning and a lack of understanding of broader economic implications, especially given international linkages.
• He argued that the absence of opposition to such holidays is due to a lack of incentives for key stakeholders to challenge the status quo.
• Kamath highlighted that this incident shows how much Indian markets need to improve to gain credibility with global investors.
• Trading across equities, derivatives, and other segments was suspended on BSE and NSE; commodity derivatives resumed in the evening.

Why It Matters: Nithin Kamath criticizes stock market closure for Mumbai civic elections, citing poor planning and economic impact.