MTF Insights — April 2026
India's combined NSE + BSE MTF book rose ₹10,548 crore (9.6%) in April 2026 to ₹1,20,334 crore on 30 Apr 2026 — the 2nd-largest monthly rise since tracking began, and 66.9% higher than a year earlier. It set a record ₹1,22,877 crore on 29 Apr 2026 before easing. The book grew on 12 of 20 sessions. Infosys added the most, ₹642 crore.
IndiaMTF · 30 Mar 2026 to 30 Apr 2026 · 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 |
|---|---|---|---|
 InfosysINFY | ₹1,404 | +₹642 | +98.8% |
 HCL TechnologiesHCLTECH | ₹727 | +₹579 | +467.8% |
 HDFC BankHDFCBANK | ₹2,031 | +₹530 | +37.9% |
 Steel Authority of IndiaSAIL | ₹655 | +₹403 | +125.7% |
 Eternal (Zomato)ETERNAL | ₹1,110 | +₹363 | +51.7% |
| Biggest unwinds | Book (₹ Cr) | Change | Shares |
|---|---|---|---|
 VedantaVEDL | ₹436 | −₹604 | — |
 Hindustan AeronauticsHAL | ₹1,088 | −₹274 | −21.7% |
 Nazara TechnologiesNAZARA | ₹871 | −₹150 | −15.0% |
 Anupam Rasayan IndiaANURAS | ₹435 | −₹131 | −28.3% |
 RECRECLTD | ₹598 | −₹115 | −17.7% |
New to the top 1,000 (44)
Left the top 1,000 (44)
Ingersoll Rand (India)₹60
Sigachi Industries₹31
Jindal Photo₹20
Rama Steel Tubes₹19
Orient Technologies₹18
Midwest₹17
Filatex India₹17
Xpro India₹17GOZerodhaamc - Goldcase₹17
Asian Energy Services₹16NINippon India Mutual Fund - Permitted₹16MIMiraeamc - MAM150ETF₹16+32 moreBorrowing versus price
Of the 199 largest positions with price history for both month-ends, 8 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.
- Infosysshares +98.8% · price −5.5%
- HCL Technologiesshares +467.8% · price −10.6%
- Sammaan Capitalshares +19.1% · price −3.3%
Shares under margin and the price both rose — leverage following the move.
- HDFC Bankshares +37.9% · price +5.5%
- Jio Financial Servicesshares +27.8% · price +9.9%
- Tata Consultancy Servicesshares +14.1% · price +4.9%
Shares were released from margin as the price fell — positions being cut or closed.
- Patanjali Foodsshares −5.8% · price −0.1%
The price rose while shares under margin fell — gains being taken off the table.
- Reliance Industriesshares −2.2% · price +6.5%
- Hindustan Aeronauticsshares −21.7% · price +24.4%
- Mazagon Dock Shipbuildersshares −9.6% · price +32.3%
Day by day
Change in the combined book on each trading day. The largest single-day addition was +₹3,694 Cr on 29 Apr 2026; the largest fall was −₹2,543 Cr on 30 Apr 2026.
Sectors
Finance supplied 25% of the month's increase on its own. 5 sectors shrank while the book grew 9.6%, led by Unclassified.
| Largest additions | Book (₹ Cr) | Change | % |
|---|---|---|---|
| Finance | ₹22,648 | +₹2,587 | +12.9% |
| Technology Services | ₹11,313 | +₹2,489 | +28.2% |
| Consumer Durables | ₹5,643 | +₹1,255 | +28.6% |
| Producer Manufacturing | ₹9,727 | +₹818 | +9.2% |
| Electronic Technology | ₹7,576 | +₹332 | +4.6% |
| Sectors that shrank | Book (₹ Cr) | Change | % |
|---|---|---|---|
| Unclassified | ₹3,415 | −₹360 | −9.5% |
| Non-Energy Minerals | ₹6,151 | −₹54 | −0.9% |
| Distribution Services | ₹1,561 | −₹53 | −3.3% |
| Industrial Services | ₹3,884 | −₹24 | −0.6% |
| Consumer Services | ₹2,301 | −₹8 | −0.3% |
NSE, BSE and concentration
NSE’s book moved +9.7% to ₹1,16,163 Cr and BSE’s +7.9% to ₹4,171 Cr, so BSE held 3.5% of the combined book. The ten largest positions held 10.1% of the whole book at month-end, 0.1 points less than a month earlier.
April in context
| Month | Book at month-end (₹ Cr) | Change |
|---|---|---|
| April 2026 | ₹1,20,334 | +9.6% |
| March 2026 | ₹1,09,786 | −8.1% |
| February 2026 | ₹1,19,430 | −1.7% |
| January 2026 | ₹1,21,539 | +3.5% |
| December 2025 | ₹1,17,480 | +1.3% |
| November 2025 | ₹1,15,980 | +2.4% |
Month-end is the last trading day in the archive for the month; changes compare 30 Mar 2026 with 30 Apr 2026. Sector figures sum each day’s largest positions on a fixed basis. See the methodology for every definition.