Description

NSE updates the list of illiquid securities subject to periodic call auction mechanism effective April 10, 2026. Both Annexure I (securities entering) and Annexure II (securities exiting) show nil entries for this period.

Summary

NSE has issued its periodic update on illiquid securities subject to the call auction mechanism, effective April 10, 2026 (Friday). This circular is issued in continuance of NSE/CMTR/25320 (December 20, 2013) and pursuant to SEBI circular CIR/MRD/DP/38/2013 (December 19, 2013) on rationalization of periodic call auction for illiquid scrips. For this cycle, both lists — securities entering and securities exiting the mechanism — contain nil entries.

Key Points

  • No securities are being added to the periodic call auction mechanism effective April 10, 2026
  • No securities are being removed from the periodic call auction mechanism effective April 10, 2026
  • The illiquid securities classification is based on trading activity during October 2025 – March 2026
  • Members must exercise additional due diligence while trading in illiquid securities, whether on own account or on behalf of clients

Regulatory Changes

No new regulatory changes. This circular is a routine update under the existing framework established by SEBI circular CIR/MRD/DP/38/2013 and NSE circular NSE/CMTR/25320.

Compliance Requirements

  • NSE members are advised to exercise additional due diligence when trading in illiquid securities
  • This applies to trading on own account as well as on behalf of clients
  • Queries may be directed to surveillance@nse.co.in

Important Dates

  • April 10, 2026 (Friday): Effective date for any changes to the periodic call auction list (nil changes this cycle)
  • Reference period: October 2025 – March 2026 (trading activity used to determine illiquid classification)

Impact Assessment

This circular has minimal market impact as both the entry and exit lists for the periodic call auction mechanism are nil for this update cycle. No specific securities or market participants are directly affected by this particular issuance. The periodic call auction framework itself remains unchanged.

Impact Justification

Routine periodic update with nil changes — no securities are being added to or removed from the periodic call auction mechanism this cycle.