Trading continues on Jan 15, but settlement doesn’t: Read this before you hit ‘buy’ or ‘sell’

Share markets will remain open on January 15 but will observe a settlement holiday

Stock exchanges will remain open on January 15 for equity and commodity trading, but the debt and currency segments will be shut. The day will also be a settlement holiday across segments, meaning trades executed on January 14 and January 15 will be settled only on January 16. Exchanges have also revised settlement timings.

Settlements are a core part of the market plumbing: this is when funds and securities are actually exchanged for trades. With banks closed on public holidays, settlement cycles get disrupted.

The changes follow the Maharashtra government’s decision to declare January 15 a public holiday under the Negotiable Instruments Act to facilitate municipal elections across 29 municipal corporations, including Mumbai.

In a circular issued on Friday, the National Stock Exchange (NSE) said: “In partial modification to Exchange circular reference no. NSE/DS/71968 dated December 23, 2025, the Exchange hereby notifies Thursday, January 15, 2026 as a trading holiday for debt segment on account of Municipal Corporation Elections in Maharashtra.”

In a similarly worded circular, the exchange also announced a trading holiday for currency derivatives on the same date.

Auction trade and settlement timelines will also be revised accordingly.

Settlement and holiday calendars are typically finalised well in advance in consultation with exchanges and other stakeholders. But unplanned events, such as state-declared holidays, can force last-minute tweaks.