Graded Surveillance Measure (GSM) - List of securities moving into their respective GSM Stages
BSE notice 20260701-37 · 01 Jul 2026
Official record
Open source pageSummary
Check the official recordWhat changed
BSE moves specific securities to higher Graded Surveillance Measure (GSM) stages. This action takes effect on July 02, 2026. Trading members must apply surveillance actions based on the assigned stage. Stage I requires a 100 percent margin rate and a 5 percent price band. Stage II requires trade-for-trade settlement, a 5 percent price band, and a 50 percent Additional Surveillance Deposit (ASD) from buyers. Stage III and IV require trade-for-trade settlement, a 5 percent price band, a 100 percent ASD from buyers, and trading only once per week. Settlement occurs on a trade-to-trade basis with no netting allowed. Trading members must take adequate precautions when trading these securities.
What you must do
- Trading members must apply surveillance actions for securities moving to higher GSM stages.
- Buyers must deposit Additional Surveillance Deposit (ASD) for securities in Stage II, III, and IV.
Document text
NOTICE
Notice No. 20260701-37
Notice Date 01 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 02, 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.
Sanjay Jain
Deputy Vice President
Surveillance
Arpita Joshi
Manager
Surveillance
Source details
- Source
- BSE Ltd (Bombay Stock Exchange)
- Type
- notice
- Published by source
- 01 Jul 2026
- Document number
- 20260701-37
- Issuing division
- DOSS
- Effective date
- 02 Jul 2026
- Coverage area
- securities