Applicability of Enhanced Surveillance Measure
NSE circular NSE/SURV/75105 · 08 Jul 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 framework. Securities in Annexure I attract a 100% margin requirement from July 10, 2026. These securities shift 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% price band under Periodic Call Auction from July 09, 2026. These measures apply in addition to existing surveillance rules. The exchange notes that this shortlisting is a surveillance action and not an adverse action against the companies.
What you must do
- Apply a minimum 100% margin on open and new positions for securities in Annexure I.
- Shift securities qualifying under ESM from Rolling Settlement to Trade-for-Trade segment.
Key dates
Document text
National Stock Exchange of India Limited
Circular
| Department: SURVEILLANCE | |
|---|---|
| Download Ref No: NSE/SURV/75105 | Date: July 08, 2026 |
| Circular Ref. No: 511/2026 |
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. July 10, 2026, on all open positions as on July 09, 2026, and new positions created from July 10, 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. July 10, 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. July 09, 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
Amit Shinde Chief Manager Surveillance
Source details
- Source
- National Stock Exchange of India
- Type
- circular
- Published by source
- 08 Jul 2026
- Document number
- NSE/SURV/75105
- Issuing division
- SURVEILLANCE
- Coverage area
- securities