Applicability of Enhanced Surveillance Measure
NSE circular 613/2026 · 11 Aug 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. Certain securities move into the framework and attract a 100 percent margin requirement on open and new positions. These securities shift from the Rolling Settlement segment to the Trade-for-Trade segment. Other securities move out of the framework. Securities that shift to Stage II move to the Trade-for-Trade segment with a 2 percent price band under Periodic Call Auction. The ESM framework operates alongside other existing surveillance measures. The selection of securities results from market surveillance and does not represent adverse action against the companies.
What you must do
- Apply a minimum 100 percent margin on open positions as of August 12, 2026, and new positions from August 13, 2026.
Key dates
- Effective date for Stage II price band
- 12 Aug 2026
Document text
National Stock Exchange of India Limited
Circular
| Department: SURVEILLANCE | |
|---|---|
| Download Ref No: NSE/SURV/75689 | Date: August 11, 2026 |
| Circular Ref. No: 613/2026 |
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 13, 2026, on all open positions as on August 12, 2026, and new positions created from August 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. August 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. August 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.
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
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Source details
- Source
- National Stock Exchange of India
- Type
- circular
- Published by source
- 11 Aug 2026
- Document number
- 613/2026
- Issuing division
- SURVEILLANCE
- Effective date
- 13 Aug 2026
- Coverage area
- securities