MTF Insights — January 2023

India's combined NSE + BSE MTF book was little changed in January 2023, ending at ₹28,958 crore on 31 Jan 2023 (+₹58 Cr, +0.2%), and 8.9% higher than a year earlier. It set a record ₹33,650 crore on 25 Jan 2023 before easing. The book grew on 11 of 21 sessions. Reliance Industries added the most, ₹334 crore.

IndiaMTF · 30 Dec 2022 to 31 Jan 2023 · Tracking MTF data and analytics since 01 Jan 2021

Stocks

Largest changes in funded value over the month, among stocks present in both month-end files. The share column is the change in shares under margin, adjusted for splits and bonuses — it shows whether more stock was genuinely borrowed against, rather than a price move.

Biggest additions	Book (₹ Cr)	Change	Shares
Reliance IndustriesRELIANCE	₹880	+₹334	+68.1%
State Bank of IndiaSBIN	₹433	+₹184	+80.6%
Bajaj FinanceBAJFINANCE	₹840	+₹103	+20.6%
Bajaj FinservBAJAJFINSV	₹486	+₹83	+31.5%
Varun BeveragesVBL	₹144	+₹78	+111.5%

Biggest unwinds	Book (₹ Cr)	Change	Shares
TATata MotorsTATAMOTORS	₹341	−₹177	−35.8%
Maruti Suzuki IndiaMARUTI	₹217	−₹78	−26.1%
Tata Consultancy ServicesTCS	₹325	−₹67	−18.9%
InfosysINFY	₹404	−₹62	−13.0%
ITCITC	₹135	−₹58	−28.2%

New to the top 500 (25)

Britannia Industries₹27BANippon India ETF Bank BeES₹17JTL Industries₹16Eureka Forbes₹12Sigachi Industries₹12Olectra Greentech₹11Piramal Pharma₹11Solar Industries India₹11Gokaldas Exports₹10JK Cement₹10Nesco₹10Rupa & Company₹10+13 more

Left the top 500 (25)

KEI Industries₹16UJUjjivan Fin. Servc₹16Max Financial Services₹15Alkem Laboratories₹13Hathway Cable & Datacom₹13Tata Motors Passenger Vehicles₹12Optiemus Infracom₹12Syngene International₹12Patanjali Foods₹11Neogen Chemicals₹10Cosmo First₹10KPI Green Energy₹10+13 more

Day by day

Change in the combined book on each trading day. The largest single-day addition was +₹4,179 Cr on 25 Jan 2023; the largest fall was −₹4,300 Cr on 27 Jan 2023.

Sectors

Finance supplied 1254% of the month's increase on its own. 5 sectors shrank while the book grew 0.2%, led by Technology Services.

NSE, BSE and concentration

NSE’s book moved +0.1% to ₹27,998 Cr and BSE’s +3.3% to ₹960 Cr, so BSE held 3.3% of the combined book. The ten largest positions held 16.8% of the whole book at month-end, 0.8 points more than a month earlier.

January in context

Month-end is the last trading day in the archive for the month; changes compare 30 Dec 2022 with 31 Jan 2023. Sector figures sum each day’s largest positions on a fixed basis. See the methodology for every definition.