Description
NSE updates the tentative publication schedule for securities eligible under the GSM framework for the next four quarters ending December 2025 through September 2026.
Summary
NSE has published the tentative time schedule for releasing the list of securities eligible under the Graded Surveillance Measure (GSM) framework for the next four quarters. The circular provides specific publication dates for quarters ending December 2025, March 2026, June 2026, and September 2026. If the scheduled date falls on a trading holiday, the circular will be published on the following working day.
Key Points
- Tentative publication schedule announced for next four quarters of GSM framework updates
- Quarter ended December 2025: Circular date March 06, 2026
- Quarter ended March 2026: Circular date June 19, 2026
- Quarter ended June 2026: Circular date September 04, 2026
- Quarter ended September 2026: Circular date December 04, 2026
- If publication date falls on trading holiday, circular will be issued on next working day
- GSM framework operates in conjunction with all other prevailing surveillance measures
- References multiple previous circulars establishing and updating the GSM framework since 2017
Regulatory Changes
No regulatory changes introduced. This is an administrative update providing advance notice of publication dates for GSM framework security lists.
Compliance Requirements
No new compliance requirements. Market participants should note the scheduled publication dates to stay informed about securities moving into or out of GSM framework.
Important Dates
- March 06, 2026: Publication of GSM securities list for quarter ended December 2025
- June 19, 2026: Publication of GSM securities list for quarter ended March 2026
- September 04, 2026: Publication of GSM securities list for quarter ended June 2026
- December 04, 2026: Publication of GSM securities list for quarter ended September 2026
Impact Assessment
Market Impact: Minimal. This is a procedural circular informing members of future publication dates.
Operational Impact: Low. Members can plan ahead for when GSM framework updates will be released. No immediate operational changes required.
Surveillance Context: The GSM framework is an additional surveillance measure that applies to certain securities based on specific criteria. This circular ensures transparency by providing advance notice of when updates will be communicated.
Impact Justification
Administrative circular providing advance notice of publication dates for GSM framework updates. No immediate action required, no trading impact, purely informational schedule update.