Jan 15: NSE Closed for Maharashtra Civic Polls
- 4 min read•
- 1,008•
- Last Updated: 13 Jan 2026 at 4:07 PM IST
The National Stock Exchange (NSE) will remain closed on January 15, 2026, after reversing an earlier decision to keep trading open with only a settlement holiday. The change follows the Maharashtra government’s declaration of a public holiday to facilitate municipal corporation elections across the state, including Mumbai.
In a circular issued on January 12, the exchange said it had declared Thursday, January 15, a full trading holiday in the capital market segment. The move partially modifies an earlier circular in which NSE had said markets would remain open, but settlement would not take place.
A Shift from Earlier Communication
It marks a shift from the exchange’s earlier communication this month. On January 9, NSE informed members that trading would continue on January 15 but that the day would be observed as a settlement holiday. Under that plan, T+0 settlement number 2026511 was not scheduled to take place, even though trades could be executed on the platform.
Impact on MTF and Short-term Trades
The January 15 holiday will iron out issues caused by settlement holidays for margin trading facility (MTF) positions and buy-today-sell-tomorrow (BTST) trades. Under the MTF settlement holiday, shares purchased a day before a settlement holiday are credited only on the next working day, not on the holiday itself.
Investors are also barred from selling shares bought under MTF or on a BTST basis during a settlement holiday. Such sales can happen only on or after the second working day following the purchase, once settlement resumes.
Although trading activity normally continues on a settlement holiday, the pause in settlement delays the transfer of ownership. It affects the timing of share credits to demat accounts and restricts the use of those shares in subsequent transactions. Since January 15 has been declared a full trading holiday, these settlement-related issues may not arise. Trading and settlement will both resume on the next working day.
Source:
