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The National Stock Exchange of India Limited applies Short-Term Additional Surveillance Measure (ST-ASM) Stage I and Stage II to securities listed in Annexure I. Members must apply a margin rate of 50 percent or the existing margin, whichever is higher, for ST-ASM Stage I securities. Members must apply a margin rate of 100 percent or the existing margin, whichever is higher, for ST-ASM Stage II securities. These margin rates apply to all open positions as on September 24, 2026, and new positions created from September 25, 2026. The maximum margin rate is capped at 100 percent. The shortlisting is purely on account of market surveillance.
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| Department: SURVEILLANCE | |
| Download Ref No: NSE/SURV/76500 | Date: September 23, 2026 |
| Circular Ref. No: 733/2026 | |
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.
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
