Complied AIComplied AI
NSE19 Aug 2026circularPrepared by Complied AI

Applicability of Enhanced Surveillance Measure

NSE circular 641/2026 · 19 Aug 2026

Official title

Applicability of Enhanced Surveillance Measure (ESM)

Official record

Open source page

Summary

Check the official record

What changed

The National Stock Exchange of India Limited updates the list of securities under the Enhanced Surveillance Measure (ESM) framework. Securities in Annexure I move into the framework and attract a 100 percent margin requirement. These securities shift from the Rolling Settlement segment to the Trade-for-Trade segment on August 24, 2026. Securities in Annexure II exit the framework. Securities that move to Stage II enter the Trade-for-Trade segment with a 2 percent price band under Periodic Call Auction on August 21, 2026. The ESM framework operates with other existing surveillance measures. This action results from market surveillance and does not represent an adverse action against the companies.

Who is affected
  • All NSE members
Required action
  • Apply a minimum 100 percent margin on open positions as of August 21, 2026, and new positions from August 24, 2026, for securities in Annexure I.
Key dates
  • Effective date for Stage II price band and margin calculation reference — 20 Aug 2026
  • Effective date for margin requirements and segment shift — 23 Aug 2026
Thresholds
  • Minimum 100 percent margin for securities in Annexure I.
  • 2 percent price band for securities shifting to Stage II.
Consequences
  • Securities shift from Rolling Settlement segment to Trade-for-Trade segment.

Prepared automatically from the captured official document and checked against source evidence. This is not an independent professional review. See how briefs are prepared. Verify material decisions against the official record.

Source details

Source
National Stock Exchange of India
Type
circular
Published by source
19 Aug 2026
Document number
641/2026
Issuing division
SURVEILLANCE
Effective date
20 Aug 2026
Coverage area
securities

Document text

Prepared for reading; wording retained from the source.

Verify official record

National Stock Exchange of India Limited

Circular

Department: SURVEILLANCE

Download Ref No: NSE/SURV/75847Date: August 20, 2026
Circular Ref. No: 641/2026

To All NSE Members

Sub: Applicability of Enhanced Surveillance Measure (ESM)

This is with reference to Exchange Circular nos. NSE/SURV/56948, NSE/SURV/57609, NSE/SURV/63361, NSE/SURV/64066, NSE/SURV/64400, and NSE/SURV/69315 dated June 02, 2023, July 18, 2023, August 09, 2024, September 20, 2024, October 04, 2024, and July 25, 2025 respectively in respect of Enhanced Surveillance Measure (ESM).

Members are hereby requested to note the following:

➢ The securities as per the attached Annexure I have satisfied the criteria for inclusion under aforesaid measure and shall attract a minimum 100% margin w.e.f. August 24, 2026, on all open positions as on August 21, 2026, and new positions created from August 24, 2026. ➢ The securities as given in Annexure II, are eligible to move out from the said framework. ➢ A consolidated list of securities under the framework is given in Annexure III.

Securities qualifying under ESM shall be shifted from Rolling Settlement segment (Series: EQ/SM) to Trade-for-Trade segment (Series: BE/ST) w.e.f. August 24, 2026.

Additionally, securities shifting to Stage II shall be under Trade for Trade with price band of 2% under Periodic Call Auction w.e.f. August 21, 2026.

Market participants may note that the ESM framework shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time.

National Stock Exchange of India Limited

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.

For more information on Enhanced Surveillance Measure please refer to our Frequently Asked Questions (FAQs) - https://www.nseindia.com/regulations/enhanced-surveillance-measure-esm

In case of any further queries, you may write to us at surveillance@nse.co.in

For National Stock Exchange of India Limited

Sareesh Koroth
Associate Vice President
Surveillance

Research the source law

Find the provision behind this update.

No high-confidence provision match was found. Browse the law library, choose the affected provision and ask against the exact statutory text.

Browse source laws

Related NSE updates