In a significant update for investors and traders, India's leading stock exchanges have declared a full trading holiday for Monday, January 15. The decision comes in light of the municipal corporation elections scheduled in Maharashtra on that day.
Exchanges Revise Schedule, Issue New Circulars
Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have revised their earlier notifications. Initially, January 15 was marked solely as a settlement holiday. However, following a review, the exchanges have now declared it a complete trading holiday across key segments.
According to the latest BSE circular, all trading activities in the equity segment, equity derivatives, commodity derivatives, and for electronic gold receipts will be suspended on January 15. A crucial adjustment noted is that equity derivatives contracts originally set to expire on January 15 will now see their expiry shifted to the previous trading day, January 14.
The NSE has similarly amended its circular, confirming the trading holiday for its capital market and futures & options (F&O) segments. This revision overturns last week's communication, which had indicated that markets would open for trading despite restrictions on settlement activities.
Why a Trading Holiday Was Declared
Settlement holidays are typically announced during elections or major public events that disrupt banking and clearing operations. Since January 15 is also a public holiday in Maharashtra, most banks are expected to remain closed. This dual impact on financial operations prompted the exchanges to opt for a full trading suspension to ensure smooth settlement processes and avoid operational risks.
Impact on the 2026 Trading Calendar
With the addition of January 15, the total count of trading holidays for Indian stock exchanges in 2026 now stands at 16, excluding weekends. The Republic Day holiday on January 26 will be the second market closure in the same month.
The holiday calendar for the first half of 2026 includes:
- Holi (March 3)
- Ram Navami (March 26)
- Mahavir Jayanti (March 31)
- Good Friday (April 3)
- Ambedkar Jayanti (April 14)
- Maharashtra Day (May 1)
- Bakri Id (May 28)
Markets will also remain shut during the second half of the year on the following occasions:
- Muharram (June 26)
- Ganesh Chaturthi (September 14)
- Gandhi Jayanti (October 2)
- Dussehra (October 20)
- Diwali Balipratipada (November 10)
- Guru Nanak Jayanti (November 24)
- Christmas (December 25)
It is noteworthy that Independence Day on August 15 falls on a weekend in 2026 and, therefore, will not lead to an additional trading closure.
