Is Stock Market closed on 29th September 2023 (Eid-e-Milad)?
Recently, the Maharashtra government announced that there is a change in Holiday dates on the occasion of Eid-e-Milad.
Earlier, both NSE and BSE had planned their settlement holidays for September 28, 2023. However, things have been shifted to September 29, 2023. This adjustment was made because there was a change in the official public holiday rules.
Why Maharashtra Moved Eid-e-Milad to September 29?
The Maharashtra State Government made this decision due to a unique situation. Anant Chaturdashi and Eid-e-Milad, a significant Islamic holiday celebrating the birth of Prophet Muhammad, were going to fall on the same day, which was September 28. So, they moved the holiday to September 29.
What this means for the people in Maharashtra is that they get two state holidays in a row, on Thursday and Friday. Then, there's the weekend, followed by a national holiday on October 2, which is Mahatma Gandhi's birthday.
The idea to shift Eid-e-Milad to September 29 came from the All India Khilafat Committee, a well-known religious and social organization. They talked to Chief Minister Eknath Shinde and asked for a holiday on Friday to make it easier to manage the religious events happening on both September 28 and 29.
The main goal of all these changes is to make sure that religious processions and observances go smoothly, and the police have enough time to prepare for both September 28 and 29. This adjustment shows how everyone is working together to make sure Eid-e-Milad and other important events are celebrated respectfully and without any issues.
Click here to see the future Share Market Holidays
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