Applicability of Enhanced Surveillance Measure · NSE/SURV/77000
NSE circular NSE/SURV/77000 · 19 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 Limited updates the list of securities under the Enhanced Surveillance Measure framework. Securities in Annexure I attract a 100% margin requirement. These securities move from the Rolling Settlement segment to the Trade-for-Trade segment. This change takes effect on October 22, 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 October 21, 2026. The exchange applies these measures for market surveillance purposes. The framework operates alongside other existing surveillance measures.
What you must do
- Apply a minimum 100% margin on all open positions as on October 21, 2026, and new positions created from October 22, 2026, for securities in Annexure I.
- Shift securities qualifying under ESM from Rolling Settlement segment to Trade-for-Trade segment.
Document text
National Stock Exchange of India Limited
Circular
Department: SURVEILLANCE
| Download Ref No: NSE/SURV/77000 | Date: October 19, 2026 |
|---|---|
| Circular Ref. No: 807/2026 |
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 22, 2026, on all open positions as on October 21, 2026, and new positions created from October 22, 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 22, 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 21, 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 and on behalf of
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
- 19 Oct 2026
- Document number
- NSE/SURV/77000
- Issuing division
- SURVEILLANCE
- Effective date
- 22 Oct 2026
- Coverage area
- securities