Zerodha founder and chief executive Nithin Kamath has criticised the decision to shut Indian stock exchanges for Mumbai’s municipal elections, calling it an example of poor planning and a lack of understanding of the broader impact such closures can have on markets.
His comments come on a day when Dalal Street remains closed after the Maharashtra government declared January 15 a public holiday to ensure smooth polling for local body elections, including those for the Brihanmumbai Municipal Corporation (BMC). The timing of the market holiday has drawn attention as Indian equities are already under pressure, weighed down by global uncertainty, concerns over trade relations, and sustained foreign investor selling.
The weakness follows a challenging 2025, during which benchmark indices remained volatile and failed to deliver meaningful returns, leaving investor sentiment fragile.
In a post on X, Kamath said the move reflects poor planning, particularly at a time when Indian markets have deep international linkages and significant global investor participation.
“The fact that our exchanges, which have international linkages, are shut down for a local municipal election shows poor planning and a serious lack of appreciation for second-order effects,” he wrote.
Quoting legendary investor Charlie Munger, Kamath added, “Show me the incentive, and I will show you the outcome,” suggesting that market holidays persist because decision-makers have little incentive to oppose them.
He also said the episode underscores how much further Indian markets need to progress before being taken seriously by global investors. His remarks come at a sensitive moment for Dalal Street, with confidence already weakened by prolonged underperformance and elevated volatility.
While equity markets are fully closed today, commodity trading has been only partially affected, with limited sessions permitted later in the day. Normal trading activity across Indian stock exchanges is expected to resume once banking and settlement operations return to normal.
Varun Chakravarthy ନିଜ ସ୍ପିନ୍ ଗେମ୍ରେ ସ୍ଲମ୍ପ ମୁହାଁ...
Sunrisers Hyderabad ମେଚ୍ରେ Pat Cummins ନଥିବା ବେଳେ...
ଗ୍ରାମୀଣ ଉନ୍ନତିକୁ ଶକ୍ତିଶାଳୀ କରିବା ପାଇଁ କେନ୍ଦ୍ର ସରକା...
1 ଏପ୍ରିଲ୍‌ରେ ଓଡିଶା ଗର୍ବ ଓ ଉତ୍ସାହରେ 90ତମ ଉତ୍କଳ...
ମେଷ :ଏହି ସପ୍ତାହ ଆପଣଙ୍କ ପାଇଁ ଉତ୍ସାହ ଓ ନୂତନ ଶକ୍ତିର ସ...
Rishabh Pant ଓପେନର୍ ଭାବେ ଦଳ ପାଇଁ ଖେଳୁଥିବା ବେଳେ ଆଶା...
ଭାରତୀୟ କୁସ୍ତୀ ବିଦ୍ୟାର୍ଥୀ ଓ MMA ଖେଳାଳି Sangram Sing...
ଗୁରୁତର ଘଟଣାରେ ଜଣେ ଛାତ୍ରୀ କେରୋସିନ ଢାଳି ନିଜକୁ ଆଗୁନ ଲ...
ଉଚ୍ଚଶିକ୍ଷା ମେଦାନରେ ବଡ଼ ପରିବର୍ତ୍ତନ ଆଣିବାକୁ ଓଡିଶା ବି...
