The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), which are both headquartered in Mumbai, officially announced here on Monday that they will remain closed on Thursday, January 15, 2026, when the municipal corporation elections will be held.
The Maharashtra government too has declared January 15 a public holiday under the Negotiable Instruments Act to facilitate the conduct of local body elections across 29 municipal corporations, including 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 in 1968.
Elections to the BMC, which is one of India’s most cash-rich and politically influential civic bodies, besides 28 other municipal corporations in the state of Maharashtra, are scheduled for Thursday, January 15, with vote counting planned for January 16.
The BSE stated in a circular that on January 15, “trading in the equity segment, equity derivatives, commodity derivatives, and electronic gold receipts will remain closed”.
“Equity Derivatives Contracts scheduled to expire on January 15, 2026, shall be preponed to January 14, 2026. The aforesaid changes will be part of today’s end-of-day contract master files,” BSE said in a circular issued here on Monday.
The NSE also declared January 15 as a “trading holiday in the capital market segment as well as futures and options (F&O)”.
“In partial modification to Exchange circular reference number NSE/CMTR/71775, the NSE hereby notifies Thursday, January 15, 2026, as a trading holiday in the Capital Market (CM) Segment on account of the Municipal Corporation Election in Maharashtra,” the NSE said.
Earlier, the National Stock Exchange (NSE) had announced that while markets will remain open on January 15, 2026, it will observe a “settlement holiday” in view of municipal elections in Maharashtra. Settlement holidays are typically declared during elections or major public events when banking and clearing operations are affected. Since January 15 is a public holiday in Maharashtra, banks will remain closed on that date.
On a settlement holiday, the stock market remains open for equity trading, but the crucial process of clearing and settling trades, which is transferring shares and funds between buyers and sellers ceases, usually because banks or depositories are closed. The delivery of shares to the demat account or the credit of funds to the bank account is delayed until the next business day.