Enhanced Surveillance Measure (ESM) Updates
BSE notice 20260709-42 · 09 Jul 2026
Official title
Enhanced Surveillance Measure (ESM)
Official record
Open source pageSummary
Check the official recordWhat changed
BSE updates the list of securities under the Enhanced Surveillance Measure (ESM) framework. Certain securities move to Stage I or exit the framework effective July 10, 2026. Securities qualifying for ESM shift from the Rolling Settlement segment to the Trade-for-Trade segment effective July 13, 2026. These securities attract a minimum 100 percent margin on all open positions as of July 10, 2026, and on new positions created from July 13, 2026. Securities shifting to Stage II operate under a 2 percent price band with Periodic Call Auction effective July 10, 2026. The ESM framework applies alongside other existing surveillance measures. The exchange reviews these securities on a periodic basis.
What you must do
- Members must apply a minimum 100 percent margin on all open positions as of July 10, 2026, and on new positions created from July 13, 2026.
Key dates
- Effective from
- 10 Jul 2026
Document text
NOTICE
| Notice No. | 20260709-42 |
| Notice Date | 09 Jul 2026 |
| Category | Trading |
| Segment | Equity |
| Department | DOSS |
| Subject | Enhanced Surveillance Measure (ESM) |
| Attachments | Annexure_ESM |
This is with reference to the Exchange notice no. 20230602-44 dated June 02, 2023, notice no.20230718-46 dated July 18, 2023, notice no. 20240809-42 dated August 09, 2024, notice no. 20240920-63 dated September 20,2024, notice no. 20241004-65 dated October 04, 2024 and notice no. 20250725-61 dated July 25, 2025 in respect of Enhanced Surveillance Measures (ESM).
Members are hereby requested to note the following:
The securities as per attached Annexure I have satisfied the criteria for inclusion under aforesaid measure and shall attract minimum 100% margin w.e.f. July 13, 2026 on all open positions as on July 10, 2026 and new positions created from July 13, 2026.
List of securities which shall continue in Enhanced Surveillance Measure (ESM) framework but shall be moved to lower Stage i.e. Stage I under ESM Framework w.e.f. July 10, 2026 included in Annexure I.
A consolidated list of securities under the framework is given in Annexure III.
Securities qualifying under ESM shall be shifted from Rolling Settlement segment to Trade-for-Trade segment w.e.f. July 13, 2026.
Additionally, securities shifting to Stage II shall be under Trade for Trade with price band of 2% and with Periodic Call Auction w.e.f. July 10, 2026.
Securities which are placed under the above-mentioned Framework would be reviewed on periodical basis. The list of securities which are moving out from ESM Framework, w.e.f. July 10, 2026 is given in Annexure II.
Market participants may note that ESM framework shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time.
Further, it may also be noted that the shortlisting of securities under ESM is purely on account of market surveillance, and it should not be construed as an adverse action against the concerned company / entity.
The Price Band of a scrip moving out of the framework shall be reinstated to the Price Band applicable to that scrip before it got shortlisted under the respective framework. This will be subject to the scrip not being shortlisted or part of any other Surveillance measure, in which case, the price band of the relevant surveillance framework will prevail.
In case of any clarifications, members may write to us at bse.surv@bseindia.com
For & On behalf of BSE Ltd.
Sanjay Jain Deputy Vice President Surveillance
Arpita Joshi Manager Surveillance
Source details
- Source
- BSE Ltd (Bombay Stock Exchange)
- Type
- notice
- Published by source
- 09 Jul 2026
- Document number
- 20260709-42
- Issuing division
- DOSS
- Effective date
- 10 Jul 2026
- Coverage area
- securities