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.

Indian equity markets ended Tuesday's trading session in negative territory, with both benchmark indices recovering from their intraday lows. The BSE Sensex closed down 250 points at 83,628, while the NSE Nifty slipped 58 points to settle at 25,732, managing to hold above the crucial 25,700 mark.

Banking Sector Leads Recovery

Financial stocks provided the primary support to the markets, staging a recovery from lower levels during the session. The banking sector's resilience was evident in the performance of the Nifty Bank index, which bucked the overall trend to close in positive territory.

Market Breadth and Participation

Despite the recovery from session lows, market participation remained subdued throughout the day. Nearly 30 stocks in the Nifty index closed in negative territory, reflecting the broad-based weakness. Market breadth remained neutral with the advance-decline ratio standing at 1:1, indicating an equal number of gainers and losers.

Sensex Movers

The Sensex basket witnessed mixed performance across various sectors and individual stocks.

Top Gainers:

• Oil and Natural Gas Corporation Ltd
• Tech Mahindra Ltd
• Hindalco Industries Ltd
• ICICI Bank Ltd
• State Bank of India
• Tata Consultancy Services Ltd

Major Laggards:

• Trent Ltd
• Larsen & Toubro Ltd
• Dr Reddy's Laboratories Ltd
• Reliance Industries Ltd
• InterGlobe Aviation Ltd
• Hindustan Aeronautics Ltd
• Grasim Industries Ltd

Sectoral Performance and Individual Stock Movements

Defence stocks experienced the sharpest declines during the session, with Solar Industries, Zen Technologies, and DCX Systems emerging as the top losers in this segment. The IT sector showed mixed results, with Tata Consultancy Services gaining nearly 1% while HCL Technologies closed in the red following their respective Q3 results.

In individual stock movements, GTPL Hathway dropped 22% from its highs despite reporting a 9% year-on-year rise in profit after tax. Conversely, Eternal gained over 3% on expectations of increased MSCI weightage. Bank of Maharashtra provided a bright spot, rising 2% after reporting its Q3 results, which contributed to the banking sector's recovery.

Broader Market Impact

Heavyweight stocks significantly influenced the overall market direction, with major companies including Trent, Larsen & Toubro, Dr Reddy's Laboratories, InterGlobe Aviation, and Reliance Industries declining between 2% and 4%. In the midcap space, Dixon Technologies, AU Small Finance Bank, L&T Finance, Godrej Properties, and PB Fintech were among the top laggards, falling between 2% and 5%.

The session highlighted the continued challenges facing Indian equity markets, with broader market underperformance and weak participation offsetting the resilience shown by the banking sector.