Indian Stock Markets Closed for Guru Nanak Dev’s Birth Anniversary
On November 15, the Indian stock markets, including the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), were closed to honor Prakash Gurpurb, the birth anniversary of Guru Nanak Dev, the founder of Sikhism. This day is celebrated across India and by the Sikh community worldwide, highlighting Guru Nanak Dev’s teachings of equality, compassion, and service.
Due to the holiday, all equity and derivative trading were paused, with markets set to resume on Monday, November 18. Meanwhile, other Asian markets showed varied performances. Japan’s Nikkei index rose by 0.8%, Hong Kong’s Hang Seng index increased by 0.54%, and Taiwan’s weighted index gained 0.5%. However, South Korea’s KOSPI index fell by 0.4%.
On the previous day, Indian stock indices experienced a decline for the sixth consecutive day. The Sensex dropped to 77,580.31 points, a decrease of 0.14%, and the Nifty fell to 23,532.70 points, down by 0.11%. Sectoral indices showed mixed results, with gains in Nifty bank, auto, and media, but losses in FMCG, pharma, and PSU bank sectors. The decline is attributed to weak Q2 earnings, foreign fund outflows, and rising domestic inflation.
In the US, the S&P 500 and Nasdaq indices also closed with declines on Thursday, with the S&P 500 down by 0.6% and the Nasdaq by 0.69%.
Doubts Revealed
Guru Nanak Dev -: Guru Nanak Dev was the founder of Sikhism, a religion that started in India. He is an important spiritual leader for Sikhs, and his birth anniversary is celebrated as a holiday.
Prakash Gurpurb -: Prakash Gurpurb is a Sikh festival that celebrates the birth anniversary of Guru Nanak Dev. It is a time for prayer, reflection, and community gatherings.
Bombay Stock Exchange -: The Bombay Stock Exchange (BSE) is one of the largest stock exchanges in India where people buy and sell shares of companies.
National Stock Exchange -: The National Stock Exchange (NSE) is another major stock exchange in India, similar to the BSE, where trading of company shares takes place.
Nikkei -: Nikkei is a stock market index for the Tokyo Stock Exchange in Japan. It shows how well the Japanese stock market is doing.
Hang Seng -: Hang Seng is a stock market index in Hong Kong. It tracks the performance of the largest companies listed on the Hong Kong Stock Exchange.
KOSPI -: KOSPI is a stock market index in South Korea. It measures the performance of the South Korean stock market.
S&P 500 -: The S&P 500 is a stock market index in the United States. It includes 500 of the largest companies listed on stock exchanges in the US.
Nasdaq -: Nasdaq is a stock exchange in the United States known for listing many technology companies. It also refers to a stock market index that tracks these companies.
