Mumbai, Sep 16 (IANS): The Bombay Stock Exchange (BSE) will remain closed on Thursday on account of Ganesh Chaturthi, which is celebrated with much fervour across the country, particularly in western India.

Trading on the National Stock Exchange (NSE) - the world's 12th largest bourse in terms of market capitalization - will also be suspended on the day of the Hindu festival.

Trading on the both these exchanges will re-commence in the morning of Friday (September 18).

The public festivities around the 10-day long Ganesh Chaturthi, celebrated extensively in Maharashtra, was introduced by Bhausaheb Laxman Javale - a doctor as well as a sympathizer with the Indian revolutionary movement - in 1892.

The following year, while advocating a festival to build grassroots unity among Indian people and bridge the gap between the upper and lower castes, Indian social reformer and revolutionary Bal Gangadhar Tilak transformed the annual domestic festival into a large, well-organized public event which is celebrated with great zeal today.