New Delhi, Sep 25 : As per the joint surveillance meeting of stock exchanges and SEBI, the Trade for Trade (TFT) framework shall be extended to small and medium enterprises (SME) stocks subject to certain changes. Market participants may note that the TFT framework shall be in conjunction with all other prevailing surveillance measures being imposed by the exchanges from time to time, BSE said in a circular. Further, it may also be noted that the shortlisting of securities under TFT is purely on account of market surveillance, and it should not be construed as an adverse action against the concerned company/entity, the circular said. The TFT framework for SME stocks would be made available w.e.f. October 3. The Securities and Exchange Board of India (SEBI) and the exchanges, in order to enhance market integrity and safeguard investor interest, have been introducing various enhanced pre-emptive surveillance measures from time to time. The process of identifying the stocks moving to TFT segment shall be on a fortnightly basis and stocks moving to/from TFT shall be on a quarterly basis. As per the criteria for TFT fortnightly review, trade to trade, fortnightly price variation is greater than or equal to 25 per cent plus S&P BSE 500/Nifty 500 index variation subject to a minimum of 10 per cent and market capitalisation less than or equal to Rs 100 crore as on the relevant date. Price earnings multiple (P/E) less than or equal to 0 or greater than or equal to upper limit subject to a minimum of 25 as on the relevant date. There is clearly room for a correction in the mid-cap area, most particularly as a continuing rise in oil price has the potential to create some renewed inflationary noise in India, just as it does in the developed world, Christopher Wood, analyst at Jefferies, said in his commentary, Greed and Fear. Still, if the major stock market indices are trading at all-time highs, the real action this year has been in the mid-cap stocks where gains have been much greater but where valuations are also much more extended. The Nifty Mid-Cap 100 Index has risen by 29 per cent so far this year, compared to a 11 per cent gain in the Nifty Index. As a result, the Mid-Cap index now trades at 24.1x 12-month forward earnings, compared to 18.7x for the Nifty, Wood said. /IANS