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ZErodha co-founder and CEO Nithin Kamath verbalised his dissatisfaction with markets closing for Maharashtra civic polls. Taking to X, he criticised that it shows “poor preparation and a serious want of hold for second-order effects.”“Indian stock exchanges are closed today for Mumbai's municipal elections. 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,” the billionaire wrote.Also Read: ₹5 crore withdrawal limit">Nithin Kamath reacts to man accusing Zerodha of scam over ₹5 crore withdrawal limitQuoting the late Charlie Munger, renowned American investor and businessman, Kamath tweeted, "Show me the incentive, and I will show you the outcome."Kamath continued, “The holiday exists because no one who matters has any incentive to oppose the market holiday. It also tells you how far we have to go before global investors take us seriously.” Social media reacts:The tweets prompted mixed reactions on social media. While some agreed with Kamath, others disagreed.An individual wrote, “It is truly disappointing to see that the Indian equity market is closed because of the Municipal elections of Maharashtra. Our markets are not local markets; they have exposure to FPIs, Sovereign Funds, various global investors, and Investors from across the country, among others. The Government should have given half-day leave to all the employees to vote, and the rest of the employees would have taken care of smooth functioning.”Also Read: Zerodha CEO Nithin Kamath recalls terrifying stroke experience, shares ‘1 big mistake’ that nearly cost him his lifeAnother added, “When foreign markets are closed, do we close our own? If we are connected internationally.” A third posted, “Why is it necessary to close the stock exchange for municipal elections? People can exercise their voting rights while performing their duties.”Indian stock markets remained closed for trading on Thursday due to the municipal corporation elections in Maharashtra. Trading was halted for both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The activities will resume on Friday, January 16, after the one-day closure.(With inputs from ANI)

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Nithin Kamath reacts to BSE, NSE being closed for Maharashtra civic elections: ‘Poor planning’

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