NSE Declares Settlement Holiday On Jan. 15 For BMC Elections; Bonds, Currency Closed

The National Stock Exchange of India Ltd. on Friday declared a holiday for the debt segment, currency derivatives and equity settlement on Thursday, Jan. 15 when Mumbai will hold BMC elections.

"Members are requested to note that January 15, 2026 shall be a settlement holiday on account of Municipal Corporations Elections in Maharashtra," an NSE circular said.

On a settlement holiday, the stock market remains open for equity trading, but the crucial process of clearing and settling trades i.e. transferring shares and funds between buyers and sellers is paused, 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.

Hence, trades executed on Jan. 14 and Jan. 15 in equities will be settled on Jan. 16, as per the NSE circular.

Incidentally, Jan. 15 also happens to be the Sensex weekly F&O expiry day.

The Maharashtra government has announced a public holiday in the state on Jan. 15, due to local body elections. This holiday applies to 29 municipal corporations, including Mumbai City and Mumbai Suburban districts under the Brihanmumbai Municipal Corporation.

Mumbai is the heart of India's financial sector, housing the main stock exchanges — NSE and BSE. The headquarters of prominent domestic and multinational banks, and trading companies are also situated in the city, so is the head office of the Reserve Bank of India.

In the annual holiday calendar, Jan. 15 is not mentioned as a stock market holiday. Similarly, on commodity bourse MCX, Jan. 15 is not a trading holiday. The next stock market holiday is Republic Day, Jan 26, which falls on Monday.