On July 17, the Indian stock market was closed due to Muharram

Investors and traders in the Indian stock market need to be aware that the market will be closed for 3 days this week due to Muharram. According to the official holiday calendar announced by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), India's two major stock exchanges will be closed on 2024/7/17 (Wednesday) due to Muharram.

Muharram, the first month of the Islamic calendar, is an important period for the Islamic community and marks the beginning of the Islamic New Year. The 10th day of Muharram is a day to commemorate the martyrdom of Imam Husayn, the grandson of the Prophet Mohammed, in the Battle of Karbala, and is known as “ashra.” This day is very reverently and solemnly observed by Muslims around the world, including India.

The closure of NSE and BSE on 7/17 means the suspension of trading on this day. This includes the equity division, stock derivatives division, and SLB division. Also, the Multi-Commodity Exchange (MCX) and the National Commodity and Derivatives Exchange (NCDEX) will also hold evening sessions as usual, but morning session trading will be closed.