Is the stock market closed on Gandhi Jayanti? (2nd Oct 2026)
Key takeaways:
- Trading will be suspended across all segments on NSE and BSE on account of Mahatma Gandhi Jayanti on October 2, 2026.
- Trading will be suspended on Multi Commodity Exchange (MCX)on October 2, 2026, in both morning and evening sessions.
- October 2, 2026, is a clearing and settlement holiday, which will directly affect the T+1 settlement cycle and fund payout.
- As Gandhi Jayanti is a national holiday, banks will be closed on Friday, October 2, 2026.
- As the October 2 holiday falls on a Friday, it creates a three-day long weekend for market participants. Regular trading and banking activities will resume on Monday, October 5, 2026.
- Investors and traders should schedule and plan their fund transfers, margin requirements, and delivery-based trades in advance to avoid last-minute settlement delays around this long weekend.
October 2 is a national holiday in India, marking the birth anniversary of Mahatma Gandhi, and on this day all major financial institutions, stock exchanges, and clearing corporations observe a full trading holiday. Let's explore this in more detail.
Why is Gandhi Jayanti observed across India?
Gandhi Jayanti is celebrated annually on October 2 to mark the birth anniversary of Mohandas Karamchand Gandhi, who was regarded as the Father of the Nation. He is known for his monumental role in India's independence movement through non-violent civil disobedience. October 2 is designated as one of India's three mandatory national holidays (alongside Republic Day on January 26 and Independence Day on August 15).
On these three national holidays, the Government of India mandates the closure of all central and state government offices, post offices, banks, and financial markets.
Are NSE and BSE open on October 2, 2026?
Trading on Friday, October 2, 2026, will be completely suspended on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The official trading holiday calendar of the exchanges shows that Mahatma Gandhi Jayanti is a full market holiday for equity, derivatives, currency derivatives and SLB segments. As a result, there will be no trading during regular market hours.
This closure on Friday will be extended through the weekend (October 3–4, 2026), resulting in a three-day trading closure. On both NSE and BSE, regular trading will resume on Monday, October 5, 2026.
Is October 2, 2026, a clearing and settlement holiday?
In addition to being a trading holiday, October 2, 2026, is also a clearing and settlement holiday. It means that on this day, the physical exchange of securities and funds via clearing corporations will also be suspended.
Thus, a trade placed on Thursday, October 1, 2026, would clear and settle on Monday, October 5, 2026, as Friday (October 2) is a market holiday followed by the weekend (October 3–4).
Will MCX remain open on Gandhi Jayanti?
On October 2, 2026 (Friday), apart from NSE & BSE, Multi Commodity Exchange of India (MCX) will also be closed. Unlike some regional festivals on which commodity markets remain closed for half a day and open during evening sessions, the Mahatma Gandhi Jayanti holiday results in a complete suspension of commodity trading.
Commodity trading across both morning (9.00 am to 05.00 pm) and evening (5.00 pm to 11.30 pm/11.55 pm) sessions will be closed on MCX. Commodity trading will resume on Monday, October 5, 2026.
Will banks remain closed across India?
As October 2 is a national holiday, all public, private, cooperative and foreign banks will be closed on October 2, 2026, across all states and union territories of India.
However, basic peer-to-peer transactions and digital transactions through Automated Teller Machines (ATMs) and Unified Payments Interface (UPI) will remain operational, but physical branches, cheque clearances and manual RTGS/NEFT institutional settlements will be suspended.
How does the Gandhi Jayanti holiday affect trading and settlements?
The nationwide closure on October 2, 2026, brings several operational challenges for market participants like:
- Open derivatives positions: With Indian markets closed for 72 hours (Friday to Sunday) and global markets continuing to trade on Friday, this can lead to a significant gap-up or gap-down open on Monday, October 5, 2026.
- Delayed payouts: Withdrawals requested after Thursday, October 1, 2026 or on the weekend will be processed on Monday, October 5, 2026, when the physical banking operations resume.
- Pledge and margin shortfalls: Traders should make sure they have sufficient collateral or cash balances in advance to avoid automatic square-offs when markets reopen due to margin shortages.
- IPO bidding: Any initial public offerings (IPOs) active during this period will have their bidding timelines adjusted, as this long weekend will push bidding timelines and allotment.
Wrap up
The Indian stock market will be closed on Friday, October 2, 2026, for Mahatma Gandhi Jayanti, with NSE, BSE, and MCX halting all regular trading and clearing sessions. Additionally, banks will also be closed on the occasion of Mahatma Gandhi Jayanti, as it is a national holiday. When coupled with Saturday and Sunday, market participants will have a three-day weekend before the markets resume operations on Monday, October 5, 2026.
Therefore, before this long weekend, traders and investors should check their outstanding derivative positions, adjust their margin and make arrangements for fund transfers in advance to ensure a hassle-free holiday.
