India's Surprise Market Closure for Temple Opening Risks Undermining Business Appeal
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India suddenly announced stock and currency markets would be closed Monday for a Hindu temple opening, shifting trading to Saturday when liquidity is thinner.
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The abrupt change risks undermining India's efforts to portray itself as a market-friendly nation that adheres to global standards.
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India has become an alternative investment hub to China, with the 5th largest stock market value globally.
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The surprise trading halt could disrupt algorithms and work schedules. Some social media users were unhappy.
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However, some strategists believe the disruption will have minimal impact on India's appeal given its rapid growth and strong demographics.