The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will remain completely closed on January 15, 2026, due to municipal corporation elections in Maharashtra. This announcement represents a significant modification from the exchanges' earlier position.

Trading Holiday Modification

The NSE issued a circular stating a "partial modification" to its earlier announcement. Initially, the exchange had planned to keep trading open on January 15 while observing only a settlement holiday. However, the updated notification declares January 15, 2026, as a complete trading holiday in the Capital Market (CM) Segment.

Maharashtra Municipal Elections

The Maharashtra government declared January 15, 2026, a public holiday under the Negotiable Instruments Act to facilitate local body elections across 29 municipal corporations. The elections include major civic bodies such as Mumbai City and Mumbai Suburban districts governed by the Brihanmumbai Municipal Corporation (BMC).

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. The Brihanmumbai Municipal Corporation confirmed that the holiday applies across Mumbai, including the city and eastern and western suburbs.

Impact on Financial Services

The public holiday declaration affects multiple sectors beyond stock markets:

• Government and semi-government offices will remain closed
• Public sector units will suspend operations
• Banks and financial institutions will be shut
• Other commercial establishments will observe the holiday

The government order also extends to voters registered in Mumbai but working outside the city, allowing them to participate in the electoral process. Vote counting is scheduled for January 16, 2026.

Market Holiday Calendar 2026

The January 15 closure is part of the stock markets' annual holiday schedule for 2026. Markets will remain closed for a total of 16 holidays throughout the year, with four holidays falling on weekends when markets are typically closed anyway.

March will see the highest number of market closures with three trading days affected by festivals and religious observances. The months of February, July, and August will have no effective market holidays as the scheduled national holidays coincide with weekends.

Historical Context

This marks a continuation of the practice observed during previous Maharashtra civic elections. Stock markets were similarly closed during the last municipal corporation elections held in 2017, establishing a precedent for suspending trading activities during major state electoral processes.

The National Stock Exchange of India (NSE) has issued an official notification regarding the closure of its commodity derivatives segment during the morning trading session on January 15. This development temporarily suspends trading activities in commodity futures and options contracts on the exchange.

Trading Session Impact

The closure specifically affects the morning trading session of the commodity derivatives segment, which typically handles various commodity contracts including agricultural products, metals, and energy commodities. Market participants who engage in commodity futures and options trading were directly impacted by this temporary suspension.

Operational Details

The notification serves as an official communication to market participants, clearing members, and other stakeholders about the operational status of the commodity derivatives segment. Such closures are typically announced to ensure transparency and proper communication with the trading community.

Market Implications

The temporary closure affects various stakeholders including commodity traders, institutional investors, and market makers who actively participate in the commodity derivatives market. The NSE's commodity derivatives segment plays a crucial role in price discovery and risk management for various commodity sectors in the Indian financial markets.