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The National Stock Exchange of India identifies specific securities for inclusion under Short-Term Additional Surveillance Measure (ST-ASM) Stage I and Stage II. Members must apply a 50% margin rate for Stage I securities and a 100% margin rate for Stage II securities. These margin requirements apply to all open positions as of September 18, 2026, and all new positions created from September 21, 2026. The exchange applies these measures in addition to other existing surveillance protocols. The inclusion of securities in the ST-ASM framework results from market surveillance and does not represent an adverse action against the affected companies.
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| Department: SURVEILLANCE | |
|---|---|
| Download Ref No: NSE/SURV/76397 | Date: September 17, 2026 |
| Circular Ref. No: 721/2026 |
To All NSE Members
This is further to Exchange Circular nos. NSE/SURV/39265, NSE/SURV/46557, NSE/SURV/52144, NSE/SURV/58558 and NSE/SURV/64066 dated October 27, 2018, December 04, 2020, April 28, 2022 September 25, 2023 and September 20, 2024 respectively, in respect of Additional Surveillance Measure (ASM).
Members are hereby requested to note that the securities as per attached Annexure I have satisfied the criteria for inclusion under ST-ASM Stage I. The applicable surveillance actions shall be as per provisions of the Short-Term Additional Surveillance Measure (ST-ASM) which are as under:
Securities as per attached Annexure I have satisfied the criteria for inclusion under ST-ASM Stage II. The applicable surveillance actions shall be as per provisions of the Short-Term Additional Surveillance Measure (ST-ASM) which are as under:
Market participants may note that ASM framework shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time.
Continuation Sheet
Further, it may also be noted that the shortlisting of securities under ASM 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 Additional Surveillance Measure please refer to our Frequently Asked Questions (FAQs) - https://www.nseindia.com/regulations/additional-surveillance-measure
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
