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Applicability of Enhanced Surveillance Measure
- Deadline
- 03 Aug 2026 · 92 days ago · Effective date for margin and segment shift
- Who
- All NSE members
- Action
- Apply a minimum 100 percent margin on open positions as of July 31, 2026, and new positions from August 3, 2026.
What 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 percent margin requirement from August 3, 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 that move to Stage II enter the Trade-for-Trade segment with a 2 percent price band under Periodic Call Auction from July 31, 2026. The exchange applies these measures for market surveillance purposes. Market participants must monitor the consolidated list in Annexure III for compliance.
What you must do
- Apply a minimum 100 percent margin on open positions as of July 31, 2026, and new positions from August 3, 2026.
Key dates
Document text
National Stock Exchange of India Limited
Circular
| Department: SURVEILLANCE | |
|---|---|
| Download Ref No: NSE/SURV/75478 | Date: July 30, 2026 |
| Circular Ref. No: 571/2026 |
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 03, 2026, on all open positions as on July 31, 2026, and new positions created from August 03, 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 03, 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 31, 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
- Official title
- Applicability of Enhanced Surveillance Measure (ESM)
- Source
- National Stock Exchange of India
- Type
- circular
- Published by source
- 30 Jul 2026
- Document number
- NSE/SURV/75478
- Issuing division
- SURVEILLANCE
- Effective date
- 03 Aug 2026
- Coverage area
- securities