Applicability of Enhanced Surveillance Measure
NSE circular NSE/SURV/76069 · 31 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. Securities in Annexure I attract a 100% margin requirement. These securities move from the Rolling Settlement segment to the Trade-for-Trade segment on September 02, 2026. Securities in Annexure II exit the framework. Securities that move to Stage II operate under a 2% price band within the Periodic Call Auction mechanism starting September 01, 2026. This measure applies to all market participants. The exchange applies these measures for market surveillance purposes. This action does not represent an adverse finding against the listed companies.
What you must do
- Apply a 100% margin on all open positions as of September 01, 2026, and new positions from September 02, 2026, for securities in Annexure I.
- Shift securities qualifying under ESM from Rolling Settlement to Trade-for-Trade segment effective September 02, 2026.
Document text
National Stock Exchange of India Limited
Circular
Department: SURVEILLANCE
| Download Ref No: NSE/SURV/76069 | Date: August 31, 2026 |
|---|---|
| Circular Ref. No: 666/2026 |
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. September 02, 2026, on all open positions as on September 01, 2026, and new positions created from September 02, 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. September 02, 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. September 01, 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.
Continuation Sheet
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
Source details
- Source
- National Stock Exchange of India
- Type
- circular
- Published by source
- 31 Aug 2026
- Document number
- NSE/SURV/76069
- Issuing division
- SURVEILLANCE
- Effective date
- 01 Sept 2026
- Coverage area
- securities