NSE updates the list of securities under Graded Surveillance Measure (GSM) framework, with new additions, continuations, and removals effective December 2025.
Impact
High
Severity
High
Justification
GSM framework affects trading members and investors through Additional Surveillance Deposit requirements and trading restrictions on securities with prices not commensurate with fundamentals. Multiple securities are being added to or removed from surveillance.
BSE publishes updated list of 54+ securities under Graded Surveillance Measure (GSM) framework based on Criteria 1 and/or Criteria 2, effective December 15, 2025.
Impact
High
Severity
High
Justification
Enhanced surveillance measures significantly impact trading of 54+ listed securities with additional compliance requirements, price bands, and margin requirements affecting investor access and liquidity.
BSE announces changes to Enhanced Surveillance Measure framework including 5 securities entering ESM, 2 moving to higher stages, 22 moving to lower stages, and 20 securities exiting ESM effective December 1, 2025.
Impact
Medium
Severity
Medium
Justification
Affects trading conditions for 49 securities through ESM framework changes. Securities in ESM face additional surveillance including price bands, trade-for-trade settlement, and increased margin requirements, impacting liquidity and trading activity.
BSE updates Enhanced Surveillance Measure framework with 5 new securities added, 2 moving to higher stages, 22 moving to lower stages, and 20 securities exiting ESM effective December 1, 2025.
Impact
Medium
Severity
Medium
Justification
Regular ESM framework update affecting 49 securities across various stages. Moderate impact on affected securities' trading with restrictions. Important for investors and traders in listed securities.
NSE circular listing 324 securities subject to Reversal Trade Cancellation Mechanism (RTCM) for November 2025, a surveillance measure to prevent price manipulation.
Impact
High
Severity
Medium
Justification
RTCM is a critical surveillance mechanism affecting 324 securities, enabling NSE to cancel erroneous or manipulative trades. High impact on trading operations and investor protection, though routine monthly update.