Mumbai, Jan 12 (IANS) Indian stock exchanges will remain closed for trading on January 15 due to the municipal corporation elections in Maharashtra, according to announcements by both the BSE and NSE on Monday.

The BSE said in a circular that there will be no trading in the equity segment, equity derivatives, commodity derivatives, and electronic gold receipts on that day.

It also clarified that equity derivative contracts originally scheduled to expire on January 15, 2026, will now expire a day earlier on January 14.

These revisions will be reflected in the end-of-day contract master files.

Similarly, the NSE revised its earlier communication and confirmed that January 15 will be a trading holiday in both the capital market and futures and options segments.

The decision follows the Maharashtra government’s declaration of a public holiday on January 15 under the Negotiable Instruments Act, 1881, to ensure the smooth conduct of elections in 29 municipal corporations, including the Brihanmumbai Municipal Corporation in Mumbai.

The state government exercised its authority under Section 25 of the Act, as permitted by the Ministry of Home Affairs.

Voting for the BMC and 28 other municipal corporations will take place on January 15, while the counting of votes is scheduled for January 16.

Since most banks will remain closed due to the public holiday, trading and settlement activities in the stock market have been suspended for the day.

Earlier, both exchanges had indicated that January 15 would only be a settlement holiday.

However, the announcement has now been amended to declare a full trading holiday. Settlement holidays are usually announced during elections or major public events that affect banking and clearing operations.

With this update, Indian stock exchanges will observe a total of 16 holidays in 2026. January 26 will be the second market holiday of the month.

Other major holidays in the first half of the year include Holi on March 3, Ram Navami on March 26, Mahavir Jayanti on March 31, Good Friday on April 3, Ambedkar Jayanti on April 14, Maharashtra Day on May 1, and Bakri Id on May 28.

–IANS

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