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May 1, 2018

Is Stock Market Open On 1st May 2018 (Answered!)

In this article, you will get the answer for is stock market open on 1st May 2018! Scroll down for live streaming video on May Day...

is stock market open on 1st may
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Is Stock Market Open On 1st May 2018?

No Stock Market is not open on 1st May 2018 because this day is celebrated as Labour's Day in India.

For a complete list of Stock Market holidays, you can refer this article

What is May Day / International Workers Day?

International Workers' Day, also known as Labour Day or Workers' Day in some countries and often referred to as May Day, is a celebration of laborers and the working classes that is promoted by the international labor movement which occurs every year on May Day (1 May), an ancient European spring festival.

The date was chosen by a pan-national organization of socialist and communist political parties to commemorate the Haymarket affair, which occurred in Chicago on 4 May 1886.

The 1904 Sixth Conference of the Second International, called on "all Social Democratic Party organizations and trade unions of all countries to demonstrate energetically on the First of May for the legal establishment of the 8-hour day, for the class demands of the proletariat, and for universal peace."

The first of May is a national public holiday in many countries worldwide, in most cases as "Labour Day", "International Workers' Day" or some similar name – although some countries celebrate a Labour Day on other dates significant to them, such as the United States, which celebrates Labour Day on the first Monday of September.

History Of May Day

Labour Day in India derives from the institution of International Workers’ Day, which began in 1886. In this year, there was an event in Chicago in the US known as the Haymarket Affair. The Haymarket Affair was the bombing of a peaceful demonstration in support of workers’ rights. Over the years following the Haymarket Affair, socialist and workers rights’ groups decided that a day should be instituted to celebrate workers every year. The day chosen was May 1st, and from the beginning of the 20th century onwards, this day was called International Workers’ Day.

In India, the day was first celebrated in Chennai in 1923, but now it is a nationwide day of celebration. In many countries, India included, the day is referred to as Labour Day instead. Ethiopia, Egypt and the US are just a few of the countries that also call this day Labour Day. In this article, you will learn about the significance of Labour Day in India as well as the form that its celebrations take.

The significance of Labour Day in India.

Labour Day is a very significant holiday in India and beyond. Here are a few reasons why it is of such significance to the population.

1. Bringing workers together: when they act in an organized, concerted way, workers are very powerful – workers outnumber the bosses and authorities who might oppress them. Labour Day is a day that brings workers together and reminds them of their power when they act in unison.

2. Providing an appreciation for workers: workers can often feel underappreciated, particularly when they do strenuous or otherwise emotionally and physically taxing jobs. Labour Day is a day when workers can feel appreciated for the work that they have done throughout the year.

3. Drawing attention to workers’ rights: on Labour Day, workers and their needs and rights are put into sharp focus. This day can be an impetus for sharpening worker’s efforts to learn about their rights and to campaign and make movements to secure a better life for themselves and their families.

4. Reminding the population about the human side of the economy: economic statistics about growth, output, input, and productivity can often obscure the human men and women who actually power the economy with their work. On Labour Day, we are reminded that the economy is something that affects, and is affected by real men and women.

5. Crossing national boundaries: the overwhelming majority of countries celebrate Labour Day on the same day, May 1st (though the States is one exception because there it is celebrated in September). This means that this day in India does not just bring together workers in India: it also gives a sense that workers across the world are united by their common struggle and their common experiences. As such, this day can invite workers to break down national barriers and support each other right across the world.

6. A day of rest: many companies will give workers a day off on Labour Day, though this is not mandated by law. So, this day is also of significance because it enables workers to take some much-needed rest from their work and to collect their thoughts, spend time with their loved ones, or just recover their energies.

7. Motivating people: showing that workers are celebrated in a given country will motivate them to get to work and to work hard. This will help to keep the economy going and also encourage men and women to pursue their chosen careers, to do their best at them, and to contribute to their society.

How is Labour Day celebrated in India?

Labour Day celebrations in India can take many forms. Usually, there will be pageants organized by trade unions and other workers’ rights groups. Ordinary workers will also often join these pageants, with slogans and banners that represent their needs and their pride as workers.

As mentioned above, one of the key ways in which Labour Day in India is significant is because it brings workers together and shows their power as a united force. Trade Unions are one of the most powerful examples of this, so it is fitting that they are at the center of pageants on Labour Day celebrations.

Celebrations on this day also take the form of educating the next generation of workers. So, for example, there may be speeches in schools or school children may be encouraged to take part in activities which get them thinking about the economy, labor, and workers’ rights. Political speeches will also usually be made by local authorities and by the national governmental authorities.

The media will publish articles on the history and significance of Labour Day in India and worldwide. Celebrations may also take a more private and individual form. Groups of work colleagues may decide to celebrate by going out for a meal together or by having a small party in the workplace. As a result, this day also becomes an opportunity for workers to make or cement their friendships and to get to know each other better, fostering a more positive workplace environment.


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