Ram Navami is a significant Hindu festival celebrating the birth of Lord Rama, observed as a public holiday across many states in India. On this day, major Indian financial markets, including the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), remain closed for trading. This holiday leads to a total absence of domestic liquidity in Indian assets, affecting the trading of the Indian Rupee (INR) and Indian equities. Global investors often adjust their positions in emerging market funds ahead of this closure.
The date of Ram Navami is determined by the Hindu lunar calendar, falling on the ninth day of the bright half (Shukla Paksha) in the month of Chaitra. As a result, the Gregorian calendar date changes annually.
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