Graded Surveillance Measure (GSM) - Securities Stage Movement · 20260710-30
BSE notice 20260710-30 · 10 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 moves specific securities to higher Graded Surveillance Measure (GSM) stages effective July 13, 2026. Trading members must apply surveillance actions based on the assigned stage. Stage I requires a 100% margin rate and a 5% price band. Stage II requires trade-for-trade settlement, a 5% price band, and a 50% Additional Surveillance Deposit (ASD) from buyers. Stage III and IV require trade-for-trade settlement, a 5% price band, a 100% ASD from buyers, and trading only on the first trading day of the week. Settlement for these securities occurs on a trade-to-trade basis without netting off. Members must exercise caution when trading these securities.
What you must do
- Apply surveillance actions including margin rates, price bands, and ASD requirements based on the assigned GSM stage.
- Execute settlement on a trade-to-trade basis without netting off.
Key dates
Document text
NOTICE
| Notice No. | 20260710-30 |
|---|---|
| Notice Date | 10 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 13, 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
- 10 Jul 2026
- Document number
- 20260710-30
- Issuing division
- DOSS
- Effective date
- 13 Jul 2026
- Coverage area
- securities