MTF Insights — March 2023
India's combined NSE + BSE MTF book fell ₹1,449 crore (5.3%) in March 2023 to ₹25,747 crore on 31 Mar 2023 — the 5th-largest monthly fall since tracking began, and 4.9% higher than a year earlier. The book grew on 7 of 21 sessions. State Bank of India saw the largest unwind, ₹97 crore.
IndiaMTF · 28 Feb 2023 to 31 Mar 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 |
|---|---|---|---|
 VedantaVEDL | ₹355 | +₹111 | +52.1% |
 Reliance IndustriesRELIANCE | ₹980 | +₹111 | +16.4% |
 InfosysINFY | ₹435 | +₹78 | +25.3% |
 Bajaj FinanceBAJFINANCE | ₹724 | +₹76 | +16.0% |
 JSW SteelJSWSTEEL | ₹162 | +₹73 | +88.6% |
| Biggest unwinds | Book (₹ Cr) | Change | Shares |
|---|---|---|---|
 State Bank of IndiaSBIN | ₹502 | −₹97 | −16.5% |
| ANAngel OneANGELONE | ₹41 | −₹56 | −51.9% |
 Bank of BarodaBANKBARODA | ₹196 | −₹55 | −22.4% |
 Asian PaintsASIANPAINT | ₹188 | −₹54 | −21.7% |
 Tata Power CompanyTATAPOWER | ₹467 | −₹54 | −8.2% |
New to the top 500 (20)
Zen Technologies₹17
Parag Milk Foods₹17
Surya Roshni₹16
The Phoenix Mills₹15MAMahindra Cie Auto₹14GSGujarat State Petro₹13
Solara Active Pharma Sciences₹12
AGI Greenpac₹11
Equitas Small Finance Bank₹11
Chemplast Sanmar₹10
Usha Martin₹10
Dishman Carbogen Amcis₹10+8 moreLeft the top 500 (20)
Capacit'e Infraprojects₹18
Max Healthcare Institute₹18ADAdani Transmission₹11
Bajaj Holdings & Investment₹11
Bosch₹11
Petronet LNG₹11
TV Today Network₹11
Finolex Industries₹10
Gujarat Pipavav Port₹10
CMS Info Systems₹10
Adani Total Gas₹9
Hitachi Energy India₹9+8 moreDay by day
Change in the combined book on each trading day. The largest single-day addition was +₹474 Cr on 09 Mar 2023; the largest fall was −₹647 Cr on 31 Mar 2023.
Sectors
3 sectors grew while the book fell, led by Non-Energy Minerals.
| Largest additions | Book (₹ Cr) | Change | % |
|---|---|---|---|
| Non-Energy Minerals | ₹1,981 | +₹160 | +8.8% |
| Energy Minerals | ₹1,391 | +₹29 | +2.1% |
| Distribution Services | ₹216 | +₹12 | +5.6% |
| Sectors that shrank | Book (₹ Cr) | Change | % |
|---|---|---|---|
| Finance | ₹6,477 | −₹570 | −8.1% |
| Process Industries | ₹2,271 | −₹262 | −10.3% |
| Transportation | ₹286 | −₹119 | −29.5% |
| Unclassified | ₹1,813 | −₹102 | −5.3% |
| Consumer Services | ₹782 | −₹98 | −11.1% |
NSE, BSE and concentration
NSE’s book moved −5.4% to ₹24,918 Cr and BSE’s −4.3% to ₹829 Cr, so BSE held 3.2% of the combined book. The ten largest positions held 18.3% of the whole book at month-end, 1.5 points more than a month earlier.
March in context
| Month | Book at month-end (₹ Cr) | Change |
|---|---|---|
| March 2023 | ₹25,747 | −5.3% |
| February 2023 | ₹27,196 | −6.1% |
| January 2023 | ₹28,958 | +0.2% |
| December 2022 | ₹28,900 | +5.6% |
| November 2022 | ₹27,367 | +4.3% |
| October 2022 | ₹26,247 | −2.8% |
Month-end is the last trading day in the archive for the month; changes compare 28 Feb 2023 with 31 Mar 2023. Sector figures sum each day’s largest positions on a fixed basis. See the methodology for every definition.