The Indian stock market will remain completely closed for trading on January 15, 2026, following municipal corporation elections in Maharashtra. Both major exchanges have issued revised communications confirming the trading holiday across all market segments.

Exchange Notifications and Trading Segments

The BSE has issued a comprehensive circular detailing the closure across multiple trading segments:

The NSE has similarly updated its communication to declare January 15 a complete trading holiday for both the capital market and futures & options (F&O) segments.

Derivative Contract Adjustments

The market closure has necessitated changes to derivative contract schedules. The BSE has clarified that equity derivatives contracts originally scheduled to expire on January 15, 2026 will now expire one day earlier on January 14, 2026. These modifications will be reflected in the end-of-day contract master files to ensure smooth settlement processes.

Revised Classification from Settlement Holiday

This announcement represents a significant change from the exchanges' earlier stance. Last week, both BSE and NSE had classified January 15 only as a settlement holiday, which typically allows trading to continue while banking and clearing operations remain suspended. Settlement holidays are commonly declared during elections or major public events when financial infrastructure faces disruptions.

The revision to a complete trading holiday stems from January 15 being declared a public holiday in Maharashtra, leading to widespread bank closures that would affect market operations.

Complete 2026 Trading Holiday Calendar

With the January 15 addition, Indian stock exchanges will observe 16 trading holidays in 2026, excluding regular weekends. The upcoming market closures include:

First Half of 2026:

• January 26: Republic Day
• March 3: Holi
• March 26: Ram Navami
• March 31: Mahavir Jayanti
• April 3: Good Friday
• April 14: Ambedkar Jayanti
• May 1: Maharashtra Day
• May 28: Bakri Id

Second Half of 2026:

• June 26: Muharram
• September 14: Ganesh Chaturthi
• October 2: Gandhi Jayanti
• October 20: Dussehra
• November 10: Diwali Balipratipada
• November 24: Guru Nanak Jayanti
• December 25: Christmas

Special Consideration for Union Budget

Markets may potentially remain open on February 1, 2026, despite it falling on a Sunday, if the government decides to present the Union Budget on that date. An official announcement regarding this special arrangement is still awaited from relevant authorities.

Indian equity markets will observe a complete closure on January 15, 2026, following Maharashtra's declaration of a public holiday for municipal corporation elections. The closure affects all major trading segments and reflects the state's commitment to facilitating democratic participation across key urban centres.

Market Closure Details

Both the BSE and National Stock Exchange (NSE) will suspend all trading activities on January 15, 2026, according to official exchange notifications. The comprehensive closure encompasses multiple market segments:

Election Scope and Impact

The public holiday facilitates voting across 29 municipal corporations throughout Maharashtra, including the Brihanmumbai Municipal Corporation. Given Mumbai's status as India's financial capital, this closure will have nationwide market implications. The decision ensures maximum voter participation by eliminating work-related barriers for eligible citizens.

All government offices, banks, public sector undertakings, and numerous private companies in Mumbai will also remain closed on January 15, 2026. This coordinated approach allows employees and citizens to exercise their voting rights without workplace obligations.

Trading Resumption and Vote Counting

Normal trading operations will resume on January 16, 2026, marking the first business day following the holiday. Vote counting for the municipal elections will also commence on January 16, 2026, providing election results shortly after market reopening.

2026 Market Holiday Schedule

The January 15 closure represents one of 16 scheduled stock market holidays for 2026. The upcoming market closures include:

Market participants should plan their trading strategies accordingly, considering these scheduled closures throughout the year. The January 26 Republic Day holiday will mark the second market closure for January 2026.