MTF Against the Market

The MTF book is measured on its own everywhere else on this site. Here it is set against the market it is borrowed against: how large it is next to free-float market cap, where it sits by company size and sector relative to market weight, and whether it moves with NIFTY or against it.

How big is the book next to the market?

The combined NSE + BSE MTF book as a share of free-float market cap (the shares that can actually trade), every verified day since 01 Feb 2024. A rising line means borrowing is growing faster than the market it is borrowed against.

Where it sits by company size

Small caps hold 48.5% of the MTF book but 20.4% of free-float market cap — borrowing is tilted 2.4× toward them. Shares are of the 93% of the book held in stocks with a size classification. Tilt is a bucket’s share of the book divided by its share of market cap: above 1×, borrowing is heavier than the bucket’s market weight. Buckets follow AMFI’s method: the 100 largest companies by market cap are large cap, the next 150 mid cap, the rest small cap.

Where it sits by sector

Among the stocks in the MTF book: each sector’s share of the book against its share of their combined free-float market cap. A sector at 2× carries twice the borrowing its market weight would suggest.

With the market, or against it?

Both indexed to 100 on 01 Jan 2024. Below, the gap between the book’s 30-session change and NIFTY 50’s: above zero, borrowing grew faster than prices; below, it fell behind. Today’s gap is +13.6 points, wider than 85% of days in the series.

Market cap is NSE’s daily figure, used only on days its total agrees with NSE’s own published figure; free float is the public shareholding in each company’s latest filing. See the methodology, the Trends page for the book on its own, and Insights for each month. Information only — not investment advice.