Applicability of Enhanced Surveillance Measure · NSE/SURV/76846
NSE circular NSE/SURV/76846 · 09 Oct 2026
Official title
Applicability of Enhanced Surveillance Measure (ESM)
Official record
Open source pageSummary
Check the official recordWhat changed
The National Stock Exchange of India updates the list of securities under the Enhanced Surveillance Measure (ESM) framework. Securities in Annexure I attract a 100 percent margin requirement on open and new positions starting October 13, 2026. These securities move from the Rolling Settlement segment to the Trade-for-Trade segment on the same date. Securities in Annexure II exit the framework. Securities shifting to Stage II move to the Trade-for-Trade segment with a 2 percent price band under Periodic Call Auction starting October 12, 2026. The ESM framework operates alongside other existing surveillance measures. The exchange clarifies that this shortlisting is a market surveillance action and not an adverse action against the listed companies.
What you must do
- Apply a minimum 100 percent margin on open positions as of October 12, 2026, and new positions created from October 13, 2026, for securities in Annexure I.
- Shift securities qualifying under ESM from Rolling Settlement segment to Trade-for-Trade segment effective October 13, 2026.
Document text
[Image omitted. See the official document.] [Image omitted. See the official document.]
National Stock Exchange of India Limited
Circular
| Department: SURVEILLANCE | |
|---|---|
| Download Ref No: NSE/SURV/76846 | Date: October 09, 2026 |
| Circular Ref. No: 784/2026 |
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. October 13, 2026, on all open positions as on October 12, 2026, and new positions created from October 13, 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. October 13, 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. October 12, 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.
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.
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
Source details
- Source
- National Stock Exchange of India
- Type
- circular
- Published by source
- 09 Oct 2026
- Document number
- NSE/SURV/76846
- Issuing division
- SURVEILLANCE
- Effective date
- 13 Oct 2026
- Coverage area
- securities