July 7 public holiday: What’s open and closed—schools, colleges, banks, stock market, markets?

Muharram, which marks the start of the Islamic New Year, is likely to be observed in India on either July 6 (Saturday) or July 7 (Sunday), depending on the sighting of the crescent moon. While the tentative date for the holiday is July 6, a change is possible if the moon is not sighted. Once confirmed, Muharram will be a public holiday across the country, with widespread closures in effect.

All schools, banks, government offices, post offices, and several private institutions are expected to remain closed on the day Muharram is observed. The closure will be applicable in most states and union territories.

Stock markets to remain closed on Muharram

Trading activity on major Indian stock exchanges will be suspended in observance of Muharram. Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain shut for trading in equity, equity derivatives, SLB (Securities Lending and Borrowing), currency derivatives, and interest rate derivatives.


Additionally, the Multi Commodity Exchange (MCX) will pause operations during the morning session on the day of Muharram. However, trading will resume in the evening session from 5:00 PM to 11:30/11:55 PM.

Significance of Muharram in Islamic calendar

Muharram is one of the four holiest months in Islam and marks the beginning of the Hijri or Islamic calendar year. The 10th day of Muharram, known as Ashura, carries deep spiritual and historical significance, particularly for Shia Muslims.

Ashura commemorates the martyrdom of Imam Hussein ibn Ali, the grandson of Prophet Muhammad, who was killed in the Battle of Karbala in 680 AD. The day is observed with mourning processions, prayers, and various religious rituals across the Muslim community.