NewsStocksNSE Keeps Markets Open on January 15 Despite Settlement Holiday for Maharashtra Municipal ElectionsNSE Keeps Markets Open on January 15 Despite Settlement Holiday for Maharashtra Municipal Elections
NSE announces markets will remain open on January 15, 2026, but will observe settlement holiday due to Maharashtra municipal elections. T+0 settlement number 2026511 suspended as state government declared public holiday under Negotiable Instruments Act. Elections scheduled for 29 municipal corporations including BMC, with vote counting on January 16.
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The National Stock Exchange (NSE) has announced that markets will remain operational on January 15, 2026, despite observing a settlement holiday due to municipal elections in Maharashtra. The exchange has informed members that T+0 settlement number 2026511 will not take place on this date.
Settlement Holiday Details
The settlement suspension comes as the Maharashtra government declared January 15 a public holiday under the Negotiable Instruments Act to facilitate local body elections across the state. The notification was issued under Section 25 of the Negotiable Instruments Act, 1881, using powers delegated to the state government by the Ministry of Home Affairs since 1968.
| Parameter: | Details |
|---|---|
| Date: | January 15, 2026 |
| Market Status: | Open for trading |
| Settlement Status: | Holiday (T+0 settlement 2026511 suspended) |
| Reason: | Maharashtra municipal elections |
| Legal Framework: | Negotiable Instruments Act, 1881 |
Municipal Elections Schedule
Elections are scheduled for 29 municipal corporations across Maharashtra, including the politically influential Brihanmumbai Municipal Corporation (BMC) that governs Mumbai City and Mumbai Suburban districts. Vote counting is planned for January 16, following the completion of polling.
The BMC elections are particularly significant as they represent one of India's most politically influential civic bodies. These elections mark the return of BMC polls after a four-year gap.
Impact on Market Operations
While trading activities will continue normally throughout the day, NSE members and market participants are advised that settlement operations will be affected due to the declared holiday. Market participants should plan their transactions accordingly to account for the settlement disruption.
The exchange's decision ensures continuity of trading operations while acknowledging the administrative requirements of the electoral process in Maharashtra.
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