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The sun sets over the minarets of mosques on the 12th day of the holy fasting month of Ramadan, in Old Cairo July 21, 2013.
The sun sets over the minarets of mosques on the 12th day of the holy fasting month of Ramadan, in Old Cairo July 21, 2013.
(AMR ABDALLAH DALSH/REUTERS)

The surprising connection between Ramadan and stock market returns

Investors on the lookout for stock market pricing anomalies have another candidate to add to their list. Research shows that during Ramadan, the holy month of fasting and prayer that is observed by 1.5 billion Muslims, stock markets in predominantly Muslim nations see lower volatility and higher returns.