Graded Surveillance Measure - List of securities moving into their respective GSM Stages
BSE notice 20260728-35 · 28 Jul 2026
Official title
Graded Surveillance Measure (GSM) - List of securities moving into their respective GSM Stages
Official record
Open source pageSummary
Check the official recordWhat changed
BSE has announced that specific securities will be moved to higher stages of the Graded Surveillance Measure (GSM) framework effective July 29, 2026. Trading members are required to note the surveillance actions applicable to each stage, which include increased margin requirements, trade-to-trade settlement, and restrictions on trading frequency. For securities in Stage II, buyers must deposit an Additional Surveillance Deposit (ASD) of 50% of the trade value. For Stages III and IV, trading is restricted to once a week, and buyers must deposit an ASD of 100% of the trade value. Trading members are advised to exercise caution, as settlement for these securities will occur on a trade-to-trade basis with no netting off permitted.
What you must do
- Trading members must note the movement of securities to higher GSM stages and apply the corresponding surveillance actions.
- Trading members must take adequate precautions while trading in the specified securities due to trade-to-trade settlement and no netting off.
Document text
NOTICE
| Notice No. | 20260728-35 |
| Notice Date | 28 Jul 2026 |
| Category | Trading |
| Segment | Equity |
| Department | DOSS |
| Subject | Graded Surveillance Measure (GSM) - List of securities moving into their respective GSM Stages |
| Attachments | Annexure_GSM |
With reference to the Exchange notice no. 20170223-44 dated February 23, 2017, Exchange notice no. 20170303-29 dated March 03, 2017, Exchange notice no. 20180720-55 dated July 20, 2018, Exchange notice no. 20191129-23 dated November 29, 2019 and Exchange notice no. 20231117-63 dated November 17, 2023 trading members are hereby requested to note that the securities as per attached Annexure shall be moved to their respective higher stages of GSM with effect from July 29, 2026 and shall attract following surveillance actions as per the provisions of GSM Framework published on February 23, 2017.
| Stage | Surveillance Actions |
|---|---|
| I | Applicable margin rate shall be 100% And price band of 5% or lower as applicable |
| II | Trade for trade with price band of 5% or lower as applicable and Additional Surveillance Deposit (ASD) of 50% of trade value to be deposited by the Buyers |
| III | Trade for trade with price band of 5% or lower as applicable and Trading permitted once a week (Every Monday/1st trading day of the week) And ASD (100% of trade value) to be deposited by the buyers |
| IV | Trade for trade with price band of 5% or lower as applicable and Trading permitted once a week (Every Monday/1st trading day of the week) And ASD (100% of trade value) to be deposited by the buyers with no upward movement. |
Further, trading members are requested to take adequate precautions while trading in the said securities, as the settlement shall be done on trade-to-trade basis and no netting off shall be allowed.
In case of any clarifications, members are requested to refer the FAQ as per the below link on GSM or may write to us at bse.surv@bseindia.com.
http://www.bseindia.com/markets/equity/EQReports/graded_surveil_measure.aspx?expandable=6
For & On behalf of BSE Ltd.
Arpita Joshi Manager Surveillance
Shreya Ghose Manager Surveillance
Source details
- Source
- BSE Ltd (Bombay Stock Exchange)
- Type
- notice
- Published by source
- 28 Jul 2026
- Document number
- 20260728-35
- Issuing division
- DOSS
- Effective date
- 29 Jul 2026
- Coverage area
- securities