Markets Closed On January 15 Due To Maharashtra Municipal Poll

Stock exchanges announced holiday on January 15 for equity market due to Maharashtra Municipal poll. 

As Maharashtra prepares for civic elections on January 15, 2026, traders and investors have been questioning whether India’s major stock exchanges will shut down in observance of the state’s public holiday. With Mumbai, India’s financial capital, at the centre of this civic poll, speculation over market closures intensified over the past week. However, the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) have clarified the situation for market participants.

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Public Holiday for Civic Elections

The Government of Maharashtra announced a public holiday for January 15, 2026. This decision follows Section 25 of the Negotiable Instruments Act. The aim is to encourage voter turnout for municipal elections, which include the Brihanmumbai Municipal Corporation (BMC) and 28 other civic bodies. This holiday is applicable across 29 municipal corporations, including Mumbai City and Mumbai Suburban districts, because of the scheduled polling on that day. 

Traditionally, such NI Act holidays often lead to closures of certain financial operations, especially banking functions, since banks typically stop cheque clearing and other settlement activities on these dates. 

Stock Exchanges Announce Holiday 

Despite the public holiday in Maharashtra, both the NSE and BSE had said that it will remain open for regular equity trading on January 15, since the exchanges have not listed January 15 as a trading holiday in their official 2026 holiday calendars.

However, in a circular released, NSE and BSE confirmed that January 15 will be market holiday. 

Settlement Holiday

The exchanges had announced that January 15 will instead be observed as a settlement holiday. This means that normal trading sessions will happen as usual. 

However, clearing and settlement activities will not occur on that day. Trades completed on January 14 and January 15 will have their settlement moved to January 16, 2026, because of the settlement break. For traders and retail investors, this update confirms that market participation stays steady. 

But, the recent announcement confirmed market close on poll day.