Trends

MTF Trends

Name: India Margin Trading Facility (MTF) Daily Book — NSE + BSE consolidated
Creator: IndiaMTF
License: https://creativecommons.org/licenses/by/4.0/

How India’s combined NSE + BSE margin trading book has moved over time — the long-term trend, month-on-month change, drawdown from peak, and the balance between fresh funding and liquidation.

Day-level history from 01 Aug 2017 to 23 Oct 2026 · 2248 trading days.

India’s combined NSE + BSE margin trading book stood at ₹1,51,200 crore as of 23 Oct 2026. Its highest recorded level is ₹1,58,716 crore, reached on 30 Sep 2026, leaving the book 4.7% below that peak.

How concentrated is the leverage?

A total tells you how much leverage exists, not whether it is spread across the market or piled into a few names. These measure the spread across the 1000 largest funded scrips.

Top 10 share

11.4%

of the whole book

Top 25 share

20.1%

of the whole book

Top 50 share

30.6%

of the whole book

Effective names

272

HHI 37

The ten largest positions carry 11.4% of all margin funding. Concentration is equivalent to about 272 equally-sized positions — the lower that number, the more the market’s leverage depends on a small group of stocks. Top-N shares are measured against the whole market book of ₹1,51,200 crore. The effective-names figure is computed across the 1000 largest funded scrips only, which hold 96% of the book; the long tail beyond them is too fragmented to change it much, so treat it as a close upper bound on concentration.

Over time

Share of the whole book held by the 10 and 100 largest positions at each month-end. Top 10: 12.2% in Aug 2017, 11.1% now; top 100: 48.6% then, 43.7% now.

Top 10Top 100

View as table: year-end shares

Year-end	Top 10	Top 100
29 Dec 2017	14.8%	47.6%
31 Dec 2018	18.7%	57.5%
31 Dec 2019	22.3%	65.8%
30 Dec 2020	20.1%	61.9%
31 Dec 2021	19.2%	63.0%
30 Dec 2022	16.0%	55.9%
29 Dec 2023	11.5%	50.7%
31 Dec 2024	13.4%	50.1%
31 Dec 2025	9.7%	43.4%
15 Oct 2026	11.1%	43.7%

MTF against market size Full view →

How big the margin book is next to the market it is borrowed against, and where it sits by company size. Size buckets follow AMFI’s method: the 100 largest companies by market cap are large cap, the next 150 mid cap, the rest small cap (ranked from the last six month-end market caps). Market cap is NSE’s daily figure as of 23 Oct 2026; free float is the public shareholding from each company’s latest quarterly filing (2026Q3).

Book vs market cap

0.34%

of ₹448.0 lakh crore NSE market cap (23 Oct 2026)

Book vs free-float market cap

0.70%

free float known for 99% of market cap

Small cap share of book

44.9%

728 stocks · ₹69,159 Cr

Large cap share of book

28.3%

100 stocks · ₹43,612 Cr

Size bucket	MTF book (₹ Cr)	Share of book	Stocks
Large cap	₹43,612	28.32%	100
Mid cap	₹28,072	18.23%	143
Small cap	₹69,159	44.90%	728
Not classified	₹4,046	2.63%	29
Outside the top 1,000	₹9,136	5.93%	—

Share of the book by size, month by month12 months

Month-end	Large	Mid	Small	Other
23 Oct 2026 (to date)	28.3%	18.2%	44.9%	8.6%
30 Sep 2026	30.4%	17.7%	45.2%	6.6%
31 Aug 2026	30.2%	17.7%	46.2%	5.9%
31 Jul 2026	28.7%	18.1%	47.1%	6.1%
30 Jun 2026	29.0%	18.9%	45.8%	6.3%
29 May 2026	28.9%	19.2%	45.9%	6.0%
30 Apr 2026	27.6%	20.0%	46.0%	6.4%
30 Mar 2026	26.6%	19.7%	46.6%	7.0%
27 Feb 2026	25.0%	22.0%	46.2%	6.8%
30 Jan 2026	25.1%	21.1%	45.7%	8.2%
31 Dec 2025	24.8%	21.0%	49.1%	5.2%
28 Nov 2025	25.4%	20.9%	49.1%	4.6%

Most of their free float on margin

Shares under margin as a share of each stock’s free-float shares — what fraction of the stock that can actually trade is held on borrowed money. Books under ₹25 crore are left out.

Stock	MTF book (₹ Cr)	% of free float	Free float	Size
SBCSBC Exports	₹281	29.05%	49.7%	Small cap
TECHNOCRAFTechnocraft Ventures	₹107	18.91%	30.0%	Small cap
TFCILTDTourism Finance Corporation of India	₹742	16.53%	96.2%	Small cap
CORDELIAWaterways Leisure Tourism	₹117	15.91%	10.7%	Small cap
GSPCROPGSP Crop Science	₹85	14.96%	28.3%	Small cap
SHRINGARMSShringar House of Mangalsutra	₹82	14.59%	25.2%	Small cap
RATNAVEERRatnaveer Precision Engineering	₹216	14.46%	61.3%	Small cap
MOTISONSMotisons Jewellers	₹111	14.35%	42.9%	Small cap
NAZARANazara Technologies	₹1,027	14.33%	66.0%	Small cap
MANGLMCEMMangalam Cement	₹196	13.50%	60.0%	Small cap

Combined MTF book — long-term trend

Net scripwise outstanding (NSE + BSE) at each month-end, ₹ crore.

Month-end values, full history111 rows

Month end	MTF book (₹ Cr)	Change (₹ Cr)	Change %	Monthly review
23 Oct 2026 month to date	₹1,51,200	−7,516	−4.7%
30 Sep 2026	₹1,58,716	+6,209	+4.1%	Read →
31 Aug 2026	₹1,52,507	+9,836	+6.9%	Read →
31 Jul 2026	₹1,42,671	+1,920	+1.4%	Read →
30 Jun 2026	₹1,40,751	+9,434	+7.2%	Read →
29 May 2026	₹1,31,317	+10,983	+9.1%	Read →
30 Apr 2026	₹1,20,334	+10,548	+9.6%	Read →
30 Mar 2026	₹1,09,786	−9,644	−8.1%	Read →
27 Feb 2026	₹1,19,430	−2,109	−1.7%	Read →
30 Jan 2026	₹1,21,539	+4,059	+3.5%	Read →
31 Dec 2025	₹1,17,480	+1,500	+1.3%	Read →
28 Nov 2025	₹1,15,980	+2,699	+2.4%	Read →
31 Oct 2025	₹1,13,281	+9,247	+8.9%	Read →
30 Sep 2025	₹1,04,034	+5,849	+6.0%	Read →
29 Aug 2025	₹98,185	+2,446	+2.6%	Read →
31 Jul 2025	₹95,739	+7,834	+8.9%	Read →
30 Jun 2025	₹87,905	+5,722	+7.0%	Read →
30 May 2025	₹82,183	+10,101	+14.0%	Read →
30 Apr 2025	₹72,082	+1,018	+1.4%	Read →
28 Mar 2025	₹71,064	−3,522	−4.7%	Read →
28 Feb 2025	₹74,586	−6,733	−8.3%	Read →
31 Jan 2025	₹81,319	−5,187	−6.0%	Read →
31 Dec 2024	₹86,506	+6,441	+8.0%	Read →
29 Nov 2024	₹80,065	−512	−0.6%	Read →
31 Oct 2024	₹80,577	−4,818	−5.6%	Read →
30 Sep 2024	₹85,395	+282	+0.3%	Read →
30 Aug 2024	₹85,113	+8,254	+10.7%	Read →
31 Jul 2024	₹76,859	+3,263	+4.4%	Read →
28 Jun 2024	₹73,596	+4,026	+5.8%	Read →
31 May 2024	₹69,570	+2,411	+3.6%	Read →
30 Apr 2024	₹67,159	+10,051	+17.6%	Read →
28 Mar 2024	₹57,108	−4,395	−7.1%	Read →
29 Feb 2024	₹61,503	+4,486	+7.9%	Read →
31 Jan 2024	₹57,017	+5,998	+11.8%	Read →
29 Dec 2023	₹51,019	+4,681	+10.1%	Read →
30 Nov 2023	₹46,338	+1,244	+2.8%	Read →
31 Oct 2023	₹45,094	+1,960	+4.5%	Read →
29 Sep 2023	₹43,134	+3,673	+9.3%	Read →
31 Aug 2023	₹39,461	+5,687	+16.8%	Read →
31 Jul 2023	₹33,774	+3,914	+13.1%	Read →
30 Jun 2023	₹29,860	+2,635	+9.7%	Read →
31 May 2023	₹27,225	+1,436	+5.6%	Read →
28 Apr 2023	₹25,789	+42	+0.2%	Read →
31 Mar 2023	₹25,747	−1,449	−5.3%	Read →
28 Feb 2023	₹27,196	−1,762	−6.1%	Read →
31 Jan 2023	₹28,958	+58	+0.2%	Read →
30 Dec 2022	₹28,900	+1,533	+5.6%	Read →
30 Nov 2022	₹27,367	+1,120	+4.3%	Read →
31 Oct 2022	₹26,247	−761	−2.8%	Read →
30 Sep 2022	₹27,008	+2,728	+11.2%	Read →
30 Aug 2022	₹24,280	+1,734	+7.7%	Read →
29 Jul 2022	₹22,546	−630	−2.7%	Read →
30 Jun 2022	₹23,176	−1,536	−6.2%	Read →
31 May 2022	₹24,712	−3,457	−12.3%	Read →
29 Apr 2022	₹28,169	+3,632	+14.8%	Read →
30 Mar 2022	₹24,537	−656	−2.6%	Read →
28 Feb 2022	₹25,193	−1,402	−5.3%	Read →
31 Jan 2022	₹26,595	+2,313	+9.5%	Read →
31 Dec 2021	₹24,282	−1,778	−6.8%	Read →
30 Nov 2021	₹26,060	+3,001	+13.0%	Read →
29 Oct 2021	₹23,059	+2,458	+11.9%	Read →
30 Sep 2021	₹20,601	+2,325	+12.7%	Read →
31 Aug 2021	₹18,276	−171	−0.9%	Read →
30 Jul 2021	₹18,447	+1,543	+9.1%	Read →
30 Jun 2021	₹16,904	+2,037	+13.7%	Read →
31 May 2021	₹14,867	+1,756	+13.4%	Read →
30 Apr 2021	₹13,111	+714	+5.8%	Read →
31 Mar 2021	₹12,397	+1,101	+9.7%	Read →
25 Feb 2021	₹11,296	+1,466	+14.9%	Read →
29 Jan 2021	₹9,830	+2,162	+28.2%	Read →
30 Dec 2020	₹7,668	+589	+8.3%	Read →
27 Nov 2020	₹7,079	+20	+0.3%	Read →
30 Oct 2020	₹7,059	+770	+12.2%	Read →
30 Sep 2020	₹6,289	−1,219	−16.2%	Read →
31 Aug 2020	₹7,508	+845	+12.7%	Read →
30 Jul 2020	₹6,663	+1,092	+19.6%	Read →
30 Jun 2020	₹5,571	+1,582	+39.7%	Read →
29 May 2020	₹3,989	+368	+10.2%	Read →
30 Apr 2020	₹3,621	+337	+10.3%	Read →
31 Mar 2020	₹3,284	−3,810	−53.7%	Read →
28 Feb 2020	₹7,094	+133	+1.9%	Read →
31 Jan 2020	₹6,961	+1,110	+19.0%	Read →
31 Dec 2019	₹5,851	+285	+5.1%	Read →
29 Nov 2019	₹5,566	+997	+21.8%	Read →
31 Oct 2019	₹4,569	+161	+3.7%	Read →
30 Sep 2019	₹4,408	+216	+5.2%	Read →
30 Aug 2019	₹4,192	−354	−7.8%	Read →
31 Jul 2019	₹4,546	−164	−3.5%	Read →
28 Jun 2019	₹4,710	−6	−0.1%	Read →
31 May 2019	₹4,716	+83	+1.8%	Read →
30 Apr 2019	₹4,633	+560	+13.7%	Read →
29 Mar 2019	₹4,073	−106	−2.5%	Read →
28 Feb 2019	₹4,179	−373	−8.2%	Read →
31 Jan 2019	₹4,552	+298	+7.0%	Read →
31 Dec 2018	₹4,254	+291	+7.3%	Read →
30 Nov 2018	₹3,963	+148	+3.9%	Read →
31 Oct 2018	₹3,815	−850	−18.2%	Read →
28 Sep 2018	₹4,665	−322	−6.5%	Read →
31 Aug 2018	₹4,987	+463	+10.2%	Read →
31 Jul 2018	₹4,524	+1	+0.0%	Read →
29 Jun 2018	₹4,523	−317	−6.5%	Read →
31 May 2018	₹4,840	+91	+1.9%	Read →
30 Apr 2018	₹4,749	−178	−3.6%	Read →
28 Mar 2018	₹4,927	−265	−5.1%	Read →
28 Feb 2018	₹5,192	+35	+0.7%	Read →
31 Jan 2018	₹5,157	+845	+19.6%	Read →
29 Dec 2017	₹4,312	+482	+12.6%	Read →
30 Nov 2017	₹3,830	+1,261	+49.1%	Read →
31 Oct 2017	₹2,569	+105	+4.3%	Read →
29 Sep 2017	₹2,464	+522	+26.9%	Read →
31 Aug 2017	₹1,942	—	—

Download All datasets and the API →

Month-over-month change

Percentage change in the combined book at each month-end versus the month before.

Drawdown from peak

How far the combined book sits below its highest level to date, at every trading day.

Fresh exposure vs liquidation — combined

Gross fresh funding and gross liquidation, summed per calendar month, ₹ crore. Unlike the net book, these are the exchanges' own gross flow figures and cannot be derived from scrip-level data.

Sector breakdown13 of 21 sectors

Sector	MTF book (₹ Cr)	% of book	1D	10D	1M	3M	Scrips
Finance	₹32,110	21.24%	−1.1%	−3.1%	−3.1%	+8.3%	155
Producer Manufacturing	₹17,022	11.26%	−2.4%	−3.1%	−2.9%	+5.8%	150
Non-Energy Minerals	₹10,405	6.88%	−1.0%	−0.6%	−0.3%	+8.6%	64
Process Industries	₹10,107	6.68%	−2.6%	−2.7%	−2.8%	+10.5%	122
Technology Services	₹8,973	5.93%	−2.3%	−20.1%	−17.3%	−24.0%	58
Electronic Technology	₹8,836	5.84%	−2.0%	−0.9%	−0.2%	+0.1%	36
Consumer Durables	₹8,211	5.43%	−2.5%	−1.7%	+2.9%	+20.0%	47
Health Technology	₹6,712	4.44%	−1.6%	−2.9%	−1.6%	+31.2%	61
Industrial Services	₹6,264	4.14%	−1.4%	−0.9%	+0.5%	−4.6%	49
Utilities	₹6,163	4.08%	−1.7%	−4.4%	−3.3%	+0.1%	36
Consumer Non-Durables	₹5,469	3.62%	−2.3%	−2.3%	−5.5%	+3.1%	48
Energy Minerals	₹5,449	3.60%	−1.9%	+0.6%	−1.9%	+21.3%	16
Outside the top 1,000 scrips	₹6,312	4.17%	—	—	—	—	—

Year by year

Where India’s combined NSE + BSE margin trading book closed each calendar year, the change against the previous year’s close, and the highest and lowest it reached during the year. Highs and lows come from the day-level archive, so they are genuine intra-year extremes rather than the best and worst month-end.

Year	Closed at (₹ Cr)	Change	High	Low	Days
2017 part year	₹4,312	+3967.9% since 01 Aug 2017	₹4,327 28 Dec 2017	₹106 01 Aug 2017	104
2018	₹4,254	−1.3%	₹5,459 19 Sep 2018	₹3,815 31 Oct 2018	246
2019	₹5,851	+37.5%	₹5,971 06 Dec 2019	₹4,003 12 Mar 2019	240 5 days missing
2020	₹7,668	+31.1%	₹8,098 21 Dec 2020	₹3,119 09 Apr 2020	245 7 days missing
2021	₹24,282	+216.7%	₹30,606 01 Dec 2021	₹7,609 04 Jan 2021	230 18 days missing
2022	₹28,900	+19.0%	₹30,028 21 Dec 2022	₹18,622 08 Jul 2022	241 7 days missing
2023	₹51,019	+76.5%	₹51,199 27 Dec 2023	₹24,666 02 Feb 2023	244
2024	₹86,506	+69.6%	₹87,036 20 Dec 2024	₹51,381 01 Jan 2024	249
2025	₹1,17,480	+35.8%	₹1,17,796 30 Dec 2025	₹70,303 15 Apr 2025	249
2026	₹1,51,200	+28.7%	₹1,58,716 30 Sep 2026	₹1,08,962 08 Apr 2026	200

Disclaimer. Data sourced from daily margin trading disclosure provided by NSE and BSE. This website and page are meant for educational and information only — not investment advice. MTF is leveraged and can amplify losses. Rules, margins, rates and eligible-stock lists change; verify current details with your broker and SEBI/exchange circulars. IndiaMTF.com is not a SEBI-registered intermediary, broker, or investment adviser and has no affiliation with SEBI, NSE or BSE. Figures are reproduced from publicly disclosed exchange data, may be delayed or revised, and should be independently verified before any trading decision. Consult a SEBI-registered investment adviser before investing.