NEPSE To Remain Closed Today Owing to Raksha Bandhan

The Nepal Stock Exchange (NEPSE) will remain closed for trading due to the occasion of Raksha Bandhan/Janai Purnima and Gaijatra on Thursday, i.e., Bhadra 15, 2080 (August 31, 2023).

On the occasion, all public offices, banks, and financial institutions too will observe a holiday.

Raksha Bandhan

In Nepal, Raksha Bandhan is referred to as Janai Purnima or Rishitarpani, and involves a sacred thread ceremony. It is observed by both Hindus and Buddhists of Nepal. It is observed by both Hindus and Buddhists of Nepal. It signifies the bond of love and protection between brothers and sisters. On this special day, sisters tie colorful threads, known as "rakhis," around their brothers' wrists, symbolizing their love and prayers for their well-being. In return, brothers offer gifts and promise to protect and support their sisters throughout their lives. Raksha Bandhan is a time for family gatherings, feasting, and reinforcing the strong ties between siblings. It is a joyous occasion that fosters love and unity within families. 

Gaijatra

Gaijatra, which translates to "Cow Festival," is a unique and culturally significant festival celebrated mainly in the Kathmandu Valley of Nepal. It typically occurs in the month of Bhadra, following the Hindu calendar. Gaijatra is a lively procession that serves both as a commemoration of the deceased and as a means of bringing humor and laughter to a solemn occasion. Families who have lost loved ones during the year participate in a procession featuring decorated cows, people dressed in vibrant costumes, and humorous skits and performances. The festival is believed to help the grieving families cope with their loss and bring a sense of acceptance. Gaijatra is a colorful and memorable event that reflects the rich cultural diversity and traditions of Nepal.