Civic polls on Jan 15: Maharashtra declares public holiday; will BSE, NSE be closed?
- 9th January 2026
- 07:00 PM
- 3 min read
Summary
The Maharashtra government has declared January 15,2026, as a public holiday for civic elections across several cities, including Mumbai. This has raised questions about whether banks and stock markets will remain closed. As of now, there is no confirmation of a stock market holiday. As of now, BSE, NSE, and MCX have not declared January 15 as a trading holiday, and there is no official confirmation of a market closure. However, the day will be observed as a settlement holiday.Mumbai | 9 January
The Maharashtra government on January 7 declared January 15, 2026, as a public holiday to facilitate local body elections across the state. The announcement has led to uncertainty over the functioning of banks and financial markets, especially since Mumbai is home to India’s key stock exchanges.
Why January 15 has been declared a holiday
The holiday has been notified under Section 25 of the Negotiable Instruments Act, 1881, to allow voters to participate in civic polls.
The holiday applies to 29 municipal corporations, including Mumbai City and Mumbai Suburban districts governed by the Brihanmumbai Municipal Corporation (BMC). Elections to the BMC and 28 other civic bodies will be held on January 15, with results expected the following day.
Will stock markets be closed?
As of now, BSE and NSE have not announced any trading holiday for January 15.The date does not feature in the official stock market holiday calendar, and no circular has been issued by the exchanges.
However, the National Stock Exchange clarified that while markets will remain open January 15 will be observed as a settlement holiday, and T+0 settlements will not be processed. In addition, the NSE has declared a trading holiday for its debt segment on January 15.
So far, the Bombay Stock Exchange (BSE) has not issued any circular declaring a trading holiday. January 15 does not feature in the official stock market holiday calendar. The date also coincides with the weekly expiry of Sensex derivatives.
Similarly, the Multi Commodity Exchange (MCX) has not listed January 15 as a trading holiday.
Will banks be closed on January 15?
So far, the Reserve Bank of India has not issued any notification confirming a bank holiday for January 15.
Typically, markets regulated by the RBI, such as government bonds, call money, triparty repo, and foreign exchange markets, remain closed on holidays declared under the Negotiable Instruments Act. However, in the absence of an RBI circular, clarity on bank operations is still awaited.
What investors should watch
Market participants are awaiting formal communication from:
- BSE and NSE, on equity and derivatives trading
- MCX on commodity trading across both morning and evening sessions
- The RBI, on banking operations
Until official notifications are issued, markets are expected to function normally on January 15, with settlement restrictions and debt-segment closure as announced by the NSE.
This article will be updated if new information is released.
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