The National Stock Exchange (NSE), on September 1, 2026, issued an update to the trading parameters applicable to Exchange Traded Funds (ETFs) pursuant to SEBI circulars dated June 15, 2026 and August 28, 2026. The revised parameters shall be applicable with effect from September 7, 2026.
The circular revises the base price, price bands, tick size and trading sessions for ETFs. The base price will generally be the T-1 day closing price based on the last 30 minutes’ VWAP, with LTP or the latest available closing NAV applicable where there is no trading. Equity and Debt ETFs (excluding Overnight and Liquid ETFs) will have dynamic bands starting at ±10%, while Overnight/Liquid ETFs will have a fixed ±5% band and Gold/Silver ETFs will have dynamic bands starting at ±6%. New Gold ETFs will have a tick size of ₹0.05, while other ETFs will have a tick size of ₹0.01.
The revised framework also specifies applicable order types, anonymous order matching, pre-trade risk controls and self-trade prevention. Pre-open trading will be available for Commodity ETFs (Gold/Silver), while other ETFs will trade through the applicable continuous/closing sessions. Members are required to load the updated security files before trading from the effective date.
[Circular Ref. No. 122/2026]
