The Indian stock market, including both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), remained closed on Thursday, January 15, 2026. This trading holiday was declared on account of the municipal corporation elections being held across Maharashtra, which includes the significant Brihanmumbai Municipal Corporation (BMC) polls in Mumbai. This move has drawn criticism from prominent financial figures, notably Nikhil Kamath, the co-founder of India's largest stock brokerage firm, Zerodha. Kamath publicly expressed his disapproval, stating that the closure of exchanges with international linkages for a local municipal election demonstrates 'poor planning and a serious lack of appreciation' for the interconnected global financial landscape. He highlighted the incongruity of such a holiday in a market aiming for global integration and efficiency. The decision for the holiday was finalized recently, with earlier communications suggesting it might only be a settlement holiday before a full trading closure was confirmed by both NSE and BSE. This last-minute change caused some confusion among investors and market participants. The Maharashtra government had declared January 15, 2026, as a public holiday in municipal areas to facilitate voter participation in the civic polls, which involved voting across 29 municipal corporations in the state. The BMC elections, specifically, are a major administrative event for Mumbai, with voting for 227 wards taking place after a significant delay of several years. While the equity and derivatives segments were shut for the entire day, the commodity market had an evening trading session from 5:00 PM to 11:55 PM. The market closure affects a vast number of professionals in the financial services sector, enabling them to exercise their democratic rights.