MTF Insights — June 2025
India's combined NSE + BSE MTF book rose ₹5,722 crore (7.0%) in June 2025 to a record ₹87,905 crore on 30 Jun 2025 — the 6th-largest monthly rise since tracking began, and 19.4% higher than a year earlier. The book grew on 14 of 21 sessions. Hindustan Aeronautics added the most, ₹340 crore.
IndiaMTF · 30 May 2025 to 30 Jun 2025 · 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 |
|---|---|---|---|
 Hindustan AeronauticsHAL | ₹1,468 | +₹340 | +27.8% |
 Mazagon Dock ShipbuildersMAZDOCK | ₹989 | +₹334 | +50.2% |
 Nazara TechnologiesNAZARA | ₹741 | +₹327 | +64.0% |
 Hindustan ZincHINDZINC | ₹465 | +₹326 | +239.6% |
 Bharat DynamicsBDL | ₹480 | +₹222 | +76.6% |
| Biggest unwinds | Book (₹ Cr) | Change | Shares |
|---|---|---|---|
 InterGlobe AviationINDIGO | ₹266 | −₹226 | −46.0% |
 Hindustan Construction CompanyHCC | ₹39 | −₹196 | −83.1% |
 Reliance IndustriesRELIANCE | ₹666 | −₹153 | −19.5% |
 Bharti AirtelBHARTIARTL | ₹64 | −₹145 | −69.0% |
 Grasim IndustriesGRASIM | ₹77 | −₹143 | −67.0% |
New to the top 500 (42)
Left the top 500 (42)
Borrowing versus price
Of the 198 largest positions with price history for both month-ends, 61 saw investors add shares under margin while the price fell. Share counts, not funded value, are compared here, because funded value moves with the price on its own; both are adjusted for splits and bonuses, and stocks with a demerger in the month are left out.
Investors added shares under margin while the price fell — leverage building into weakness.
- Hindustan Aeronauticsshares +27.8% · price −2.1%
- Mazagon Dock Shipbuildersshares +50.2% · price −6.7%
- Yes Bankshares +25.8% · price −5.3%
Shares under margin and the price both rose — leverage following the move.
- State Bank of Indiashares +0.1% · price +1.0%
- Nazara Technologiesshares +64.0% · price +0.3%
- Sammaan Capitalshares +5.3% · price +14.7%
Shares were released from margin as the price fell — positions being cut or closed.
- Varun Beveragesshares −2.4% · price −3.9%
- ITCshares −7.0% · price −0.4%
- Larsen & Toubroshares −13.3% · price −0.1%
The price rose while shares under margin fell — gains being taken off the table.
- Jio Financial Servicesshares −10.1% · price +14.0%
- Reliance Industriesshares −19.5% · price +5.6%
- Vedantashares −6.3% · price +5.8%
Day by day
Change in the combined book on each trading day. The largest single-day addition was +₹1,514 Cr on 12 Jun 2025; the largest fall was −₹1,204 Cr on 20 Jun 2025.
Sectors
Finance supplied 28% of the month's increase on its own. 5 sectors shrank while the book grew 7.0%, led by Transportation.
| Largest additions | Book (₹ Cr) | Change | % |
|---|---|---|---|
| Finance | ₹18,681 | +₹1,624 | +9.5% |
| Electronic Technology | ₹5,948 | +₹941 | +18.8% |
| Producer Manufacturing | ₹8,831 | +₹745 | +9.2% |
| Technology Services | ₹5,728 | +₹458 | +8.7% |
| Consumer Non-Durables | ₹3,128 | +₹374 | +13.6% |
| Sectors that shrank | Book (₹ Cr) | Change | % |
|---|---|---|---|
| Transportation | ₹1,634 | −₹256 | −13.5% |
| Utilities | ₹3,838 | −₹255 | −6.2% |
| Health Services | ₹144 | −₹162 | −52.9% |
| Communications | ₹740 | −₹159 | −17.7% |
| Distribution Services | ₹522 | −₹110 | −17.4% |
NSE, BSE and concentration
NSE’s book moved +7.0% to ₹84,646 Cr and BSE’s +5.3% to ₹3,259 Cr, so BSE held 3.7% of the combined book. The ten largest positions held 10.5% of the whole book at month-end, 0.1 points more than a month earlier.
June in context
| Month | Book at month-end (₹ Cr) | Change |
|---|---|---|
| June 2025 | ₹87,905 | +7.0% |
| May 2025 | ₹82,183 | +14.0% |
| April 2025 | ₹72,082 | +1.4% |
| March 2025 | ₹71,064 | −4.7% |
| February 2025 | ₹74,586 | −8.3% |
| January 2025 | ₹81,319 | −6.0% |
Month-end is the last trading day in the archive for the month; changes compare 30 May 2025 with 30 Jun 2025. Sector figures sum each day’s largest positions on a fixed basis. See the methodology for every definition.