F&O Margin and Lot Size Explained: SPAN & Exposure
September 4, 2026
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NSE holidays are official non-trading days declared by the National Stock Exchange when the equity and derivatives markets remain fully closed. In 2026, NSE has 15 full trading holidays on weekdays for the equity segment, plus a special Muhurat Trading session on Diwali Laxmi Pujan, Sunday, November 8, 2026, even though markets are ordinarily closed on Sundays.
NSE has 15 full trading holidays on weekdays in 2026 for the equity segment
Muhurat Trading happens on Sunday, November 8, 2026, for Diwali Laxmi Pujan
Commodity and currency derivatives segments follow additional holidays beyond the equity list
Zerodha, Upstox, Angel One, and other brokers follow the same official NSE/BSE calendar
Weekend holidays (like Independence Day in 2026, which falls on a Saturday) don't add extra weekday closures
Data source: NSE India and BSE Limited official 2026 trading holiday circulars
Markets remain fully closed on these 15 dates across the equity, equity derivatives, and Securities Lending and Borrowing (SLB) segments.
| Date | Day | Holiday |
|---|---|---|
| 26 January 2026 | Monday | Republic Day |
| 3 March 2026 | Tuesday | Holi |
| 26 March 2026 | Thursday | Shri Ram Navami |
| 31 March 2026 | Tuesday | Shri Mahavir Jayanti |
| 3 April 2026 | Friday | Good Friday |
| 14 April 2026 | Tuesday | Dr. Baba Saheb Ambedkar Jayanti |
| 1 May 2026 | Friday | Maharashtra Day |
| 28 May 2026 | Thursday | Bakri Eid |
| 26 June 2026 | Friday | Muharram |
| 14 September 2026 | Monday | Ganesh Chaturthi |
| 2 October 2026 | Friday | Mahatma Gandhi Jayanti |
| 20 October 2026 | Tuesday | Dussehra |
| 10 November 2026 | Tuesday | Diwali-Balipratipada |
| 24 November 2026 | Tuesday | Guru Nanak Jayanti |
| 25 December 2026 | Friday | Christmas |
Source: NSE India and BSE Limited official 2026 trading holiday circular. This is the complete equity segment list; always verify on the official NSE website before making time-sensitive decisions.
Note: Holidays falling on weekends do not add compensatory weekday closures. In 2026, this includes Maha Shivaratri (15 February, Sunday), Eid-Ul-Fitr (21 March, Saturday), Independence Day (15 August, Saturday), and Diwali Laxmi Pujan (8 November, Sunday), the last of which hosts the special Muhurat Trading session instead of a regular closure.
The Commodity Derivatives segment generally follows the same closures as equity, though certain holidays only affect the morning session while trading resumes in the evening to align with global commodity markets. Full-day closures typically apply on Republic Day, Good Friday, Mahatma Gandhi Jayanti, and Christmas.
The Currency Derivatives segment follows a separate calendar that includes a few additional closures not on the equity list, such as Chhatrapati Shivaji Maharaj Jayanti and Gudi Padwa, which are treated as settlement holidays rather than full trading closures.
Settlement holidays affect fund transfers and clearing timelines even when regular trading continues. In 2026, these include:
| Date | Day | Holiday |
|---|---|---|
| 19 February 2026 | Thursday | Chhatrapati Shivaji Maharaj Jayanti |
| 19 March 2026 | Thursday | Gudi Padwa |
| 1 April 2026 | Wednesday | Annual Bank Closing |
| 26 August 2026 | Wednesday | Id-E-Milad |
On these dates, trading continues normally, but pay-in and pay-out of funds and securities may shift by a day, which matters for anyone timing a withdrawal or a large settlement-dependent transaction.
Since Saturdays and Sundays are already non-trading days, holidays that land on a weekend do not result in an extra weekday closure. In 2026:
Maha Shivaratri: Sunday, 15 February 2026
Eid-Ul-Fitr (Ramzan Eid): Saturday, 21 March 2026
Independence Day: Saturday, 15 August 2026
Diwali Laxmi Pujan: Sunday, 8 November 2026 (Muhurat Trading session held instead)
A common point of confusion: brokers like Zerodha, Upstox, Angel One, and Groww don't set their own separate holiday calendar. Every SEBI-registered broker in India follows the same official NSE and BSE trading holiday schedule, since brokers can only route orders when the exchange itself is open.
So the Zerodha holiday calendar 2026, the Upstox holiday list, and the NSE holiday list are effectively identical for equity and derivatives trading. The only broker-specific detail worth checking is each platform's own back-office or fund-withdrawal processing schedule around settlement holidays, since some brokers batch-process withdrawals slightly differently around bank closures. For day-to-day trading purposes, the share brokers in India comparison covers how major platforms handle this.
NSE trading hours remain consistent throughout 2026 on all non-holiday trading days.
| Session | Timing | Purpose |
|---|---|---|
| Pre-opening session | 9:00 AM to 9:15 AM | Order collection and price discovery |
| Normal trading | 9:15 AM to 3:30 PM | Regular buying and selling |
| Closing session | 3:40 PM to 4:00 PM | Post-closing order matching |
| Time | Activity |
|---|---|
| 9:00 AM to 9:08 AM | Order entry and modification |
| 9:08 AM to 9:12 AM | Order matching and trade confirmation |
| 9:12 AM to 9:15 AM | Buffer period, no new orders accepted |
Understanding NSE trading hours in detail, including which periods tend to see the highest volume and volatility, helps with timing entries and exits more effectively around holiday-adjacent trading days, when volume patterns can shift.
Muhurat Trading is a special one-hour trading session held on Diwali evening, marking the symbolic start of the new Samvat year according to the Hindu calendar. The term "Muhurat" means an auspicious time, and market participants generally treat this session as a favorable moment for new investments.
In 2026, Muhurat Trading falls on Sunday, 8 November, coinciding with Diwali Laxmi Pujan. NSE typically announces the exact timing a few days before the festival, generally a one-hour window in the evening. The session is open across Equity, Equity Derivatives (F&O), and Currency Derivatives segments, and sometimes Commodity Derivatives as well, depending on NSE's annual announcement.
Trading volume during this session tends to be lighter and more symbolic than a regular session, with many participants making small, token trades rather than large positions. For a full breakdown of timing conventions and participation guidelines, see the dedicated guide on Muhurat Trading.
Holidays affect different types of market participants differently.
Day traders: Since intraday positions must close before the market closes, holidays themselves don't carry direct risk. The bigger consideration is the session right before a holiday, where volume can thin out earlier than usual.
Swing and F&O traders: Positions held overnight or over a holiday carry gap risk, since global events during the closure can move prices sharply once trading resumes. This is particularly relevant around expiry weeks; understanding weekly expiry days helps in planning around holidays that fall close to expiry.
Long-term investors: Holidays have minimal direct impact, though a holiday-shortened week can be a useful checkpoint for portfolio reviews.
SIP and mutual fund investors: NAV applicability shifts to the next trading day when a scheduled SIP date falls on a market holiday, which is worth factoring in around festival-heavy months like October and November.
The most reliable way to confirm the next NSE holiday is the official NSE India website under its trading holidays section, which is updated directly from exchange circulars. Most brokers, including Zerodha, Upstox, and Angel One, also display the current holiday calendar within their trading apps, with the Dhanarthi Screener useful for tracking how holiday-adjacent sessions affect specific stocks in a watchlist. Financial portals like Moneycontrol and Economic Times republish the same official calendar as well, though cross-checking against the exchange source is always worthwhile for anything time-sensitive.
NSE observes 15 full trading holidays on weekdays in 2026, spread across national holidays, religious festivals, and regional observances, alongside the special Muhurat Trading session on Diwali Laxmi Pujan. Since every SEBI-registered broker, including Zerodha, follows this same official exchange calendar, there's no need to track separate broker-specific holiday lists for trading purposes.
Whether managing intraday positions, F&O contracts, or long-term SIPs, keeping this calendar in view helps avoid last-minute surprises around settlement timing and expiry adjustments. Current fund and stock data can be cross-checked directly on Dhanarthi alongside this holiday calendar when planning trades around a market closure, and Dhanarthi's financial analysis tools can help review a stock's fundamentals before entering a position ahead of a holiday-shortened week.
Disclaimer: This article is for educational and informational purposes only and does not constitute investment advice. Dhanarthi is not a SEBI-registered investment advisor or research analyst. Holiday dates are based on official NSE and BSE circulars as of July 2026 and are subject to change; always verify on the official exchange website before making time-sensitive trading or settlement decisions.
1. What are the NSE holidays in 2026?
NSE has 15 full trading holidays on weekdays in 2026, including Republic Day, Holi, Shri Ram Navami, Good Friday, Maharashtra Day, Ganesh Chaturthi, Dussehra, Diwali-Balipratipada, Guru Nanak Jayanti, and Christmas, among others. These apply to the equity and equity derivatives segments.
2. How many trading holidays does NSE have in 2026?
NSE observes 15 official trading holidays on weekdays in 2026 for the equity segment. The commodity and currency derivatives segments follow a few additional settlement holidays beyond this list.
3. Is the stock market open tomorrow?
To check if the market is open tomorrow, cross-reference the date against the NSE holiday calendar 2026 above. Markets operate Monday through Friday, 9:15 AM to 3:30 PM, except on the 15 listed holidays. Always verify on the official NSE website for last-minute circular updates.
4. When is Muhurat Trading in 2026?
Muhurat Trading 2026 falls on Sunday, November 8, coinciding with Diwali Laxmi Pujan. NSE announces the exact one-hour timing a few days before the festival, generally in the evening.
5. Where can I download the NSE holiday calendar for 2026?
The official NSE holiday calendar 2026 is available on the NSE India website under the trading holidays section. Most broker platforms, including Zerodha, Upstox, and Angel One, also provide the same calendar within their apps and websites.
6. What are NSE trading hours in 2026?
NSE trading hours remain consistent through 2026: pre-opening from 9:00 AM to 9:15 AM, normal trading from 9:15 AM to 3:30 PM, and closing session from 3:40 PM to 4:00 PM on all non-holiday trading days.
7. How do NSE holidays affect my trading strategy?
Holidays mainly affect swing and F&O traders holding overnight positions, since global events during the closure can cause price gaps when trading resumes. Day traders and long-term investors see minimal direct impact, though SIP dates falling on a holiday shift to the next trading day.
8. What is the difference between NSE equity holidays and commodity holidays?
The equity segment observes 15 full-day holidays in 2026. Commodity derivatives largely follow the same list but sometimes close only the morning session on certain dates, resuming evening trading to align with global commodity markets.
9. Are NSE markets closed on weekends in 2026?
Yes, NSE remains closed every Saturday and Sunday. When an official holiday falls on a weekend, such as Independence Day on Saturday, 15 August 2026, no additional weekday closure is added.
10. Is the Zerodha holiday calendar different from the NSE holiday calendar?
No. Zerodha, along with every other SEBI-registered broker, follows the same official NSE and BSE trading holiday calendar, since orders can only be routed when the exchange itself is open. The only platform-specific difference is occasionally in back-office processing timing around settlement holidays.
11. Can I place orders during NSE holidays?
No, orders cannot be executed on official NSE trading holidays. Most brokers allow orders to be placed after hours, which then get queued for the next trading day, though Good Till Cancelled (GTC) orders remain pending without executing until the market reopens.
12. What happens to my open positions on NSE holidays?
Delivery-based positions remain unaffected during a market holiday. Intraday positions must be closed before the holiday, since they cannot carry over. F&O contracts continue accruing time decay even while markets are closed, which can affect premiums once trading resumes.
13. How can I check the next NSE trading holiday?
The official NSE website's trading holidays section is the most reliable source. Broker apps like Zerodha's Kite and financial portals such as Moneycontrol and Economic Times also publish updated holiday calendars, though cross-checking against the exchange source is worthwhile for time-sensitive decisions.
14. Why does NSE have more holidays than some global markets?
India observes a wide range of religious and national festivals across Hindu, Muslim, Christian, and Sikh traditions, alongside national days like Republic Day, which is reflected in the NSE holiday calendar. Markets in some other countries follow a shorter list based mainly on federal or bank holidays.
15. What are reliable sources for NSE holiday updates?
The official NSE India website is the primary source. Broker platforms including Zerodha, Upstox, and Angel One, along with financial portals like Moneycontrol and Economic Times, republish the same official calendar and are generally reliable for quick reference.
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