Across ETFs, corporate bonds, and SME stocks, roughly INR 14,905 crores changed hands this week (27–31 July), alongside another INR 15,561 crores in block and bulk deals. ETFs had their clearest sector story of the month so far — IT up, Nasdaq-linked funds down — while corporate bonds saw a broad, market-wide rally in prices. SME breadth stayed choppy, but one name, already flagged as a smart-money favorite in our own screening, kept climbing. Here is the detail:
ETFs: IT sector funds move together, Nasdaq-linked funds pull back
ETF turnover for the week came to INR 13,769 crore, with breadth solidly positive. 264 symbols closed up, 67 closed down, against 5 flat.
Top gainers were dominated by IT-sector ETFs moving in lockstep, every one of them tracking the Nifty IT index or a close equivalent — TECH (+7.3%), ITIETF (+7.0%), ITETF (+6.9%), SBIETFIT (+6.8%), IT (+6.8%), ITADD (+6.7%), ITAXIS (+6.7%), and ITBETA (+6.7%). Eight different fund houses' IT-themed ETFs all within a percentage point of each other, a sign of a genuine sector rally rather than a single-fund move.
Top losers clustered in the opposite direction; Nasdaq/global-tech-linked funds pulled back, led by MON100 (Motilal Oswal Nasdaq 100 ETF, -7.0%), MAFANG (tracking the NYSE FANG+ index, -5.3%), and MASPTOP50 (S&P 500 Top 50, -5.1%), alongside a smaller pullback across silver ETFs (SILVER360, SILVER, SILVERBND, each around -2.2%).
The heaviest turnover, as usual, sat in the largest and most liquid funds: SILVERBEES (INR 1,867 crore, -2.1%), LIQUIDBEES (INR 1,634 crore, flat), GOLDBEES (INR 955 crore, -0.7%), LIQUIDCASE (INR 948 crore, flat), and NIFTYBEES (INR 785 crore, +2.3%). One symbol, LIQUIDBETA, touched a new 52-week high and one, EMETAL, touched a new 52-week low.
One more ETF number needs a caveat before it goes anywhere near a "top mover" list: IVZINNIFTY (Invesco India Nifty ETF) closed 89.9% down on 31 July, falling from INR 2,786.51 to INR 280.58 in a single session. That is the same signature we wrote up in the PSUBANK post a few weeks ago. The ratio works out to almost exactly 10x, and traded quantity jumped roughly 11x that same day (296 units the day before to 3,394) while turnover value stayed in its normal range, consistent with a unit split rather than a real loss. It was also isolated since no other ETF moved anything close to that on the same day. We are excluding it from anything we would call a "top mover" here, same ±50% implausible-move rule the PSUBANK post led us to add.
Corporate Bonds: prices firm broadly, but check the volume first
Corporate bond breadth was positive this week — 165 symbols up, 109 down, 19 flat — on INR 29 crores of total turnover across the week. What stood out was breadth of a different kind: 35 symbols touched a new 52-week high this week, against just 4 new lows, spread across issuers as varied as SCL, HMDA, IIFL, VCCL, AFIL, and NMC — a genuinely broad-based rally in bond prices, not one or two names.
As always with this instrument, turnover and trade count matter as much as price when reading the biggest single-name moves. The week's top "gainer," 851HUDCO28, was up 20.0% — on turnover of just INR 14,795 for the entire week. The next several names on both sides (1030SFIL28 +17.1%, 1275DCC28 -35.6%, 1003SCL30A -30.1%) all traded on turnover in the tens of thousands of rupees — thin enough that a single trade can move the printed price without reflecting real two-sided demand. The names that actually carried the week's volume — 830NHAI27 (INR 2.99 crore), 76NHAI31 (INR 1.60 crore), 865IIFL28 (INR 1.40 crore) — moved by well under 1%, the more representative picture of the segment this week.
SME: breadth stays choppy, but OPTIVALUE keeps climbing
SME breadth was close to flat this week — 250 up against 266 down, 15 flat — on INR 1,107 crores of turnover. New 52-week lows (17) modestly outnumbered new highs (11), a mild negative tilt rather than the sharper split we saw last week.
Top gainer, by a wide margin: OPTIVALUE (Optivalue Tek Consult Ltd), up 63.6% for the week on turnover of INR 50.1 crore. Single most-traded SME name of the week. This is not a fresh, unexplained spike but a continuation of a pattern our own SME screening already flagged. It shows sustained upward closes (three straight sessions of +8.9%, +20.0%, +20.0%), a new 52-week high, and repeat smart-money buying, including a bulk-deal purchase on 28 July. Worth watching, though as always, this is what the flow and price data show, not a fundamentals call.
Top losers: GSMFOILS (-31.0%), DIGIKORE (-22.9%), GOLDKART (-22.6%), GIRIRAJ (-22.0%), MANAV (-21.3%). GSMFOILS is worth a specific note since it was also the second most-traded SME name of the week (INR 43.9 crore), and its decline built gradually across several sessions rather than in one cliff-edge drop, so unlike PSRAJ last week, this reads as a real, liquid decline rather than a corporate-action artifact.
Smart Money: an early investor exits IIFL, one name builds a position in a single sitting
Block and bulk deals combined for INR 15,561 crores across 109 symbols this week, net buyers (51 symbols) and net sellers (54 symbols) close to evenly split.
The week's largest single print was an ownership handoff, not a directional bet. On 30 July, FIH Mauritius Investments Ltd, an early/anchor IIFL shareholder, sold its full 63.4 lakh-share stake in IIFL at INR 590. Picked up by SMALLCAP WORLD FUND INC (61.7 lakh shares) and American Funds Insurance Series Global Small Capitalization Fund (1.66 lakh shares). Same shape as the SHADOWFAX story from last week. A clean, priced, single-session transfer between institutional holders rather than a signal on the stock itself. (Note: this print appears in both NSE's block-deal and bulk-deal disclosures for the same date, price, and quantity. A known duplication in the underlying data for large crossing deals, not a pipeline bug on bhavcopydata.com.)
On a smaller scale, LASERPOWER stood out as the cleanest accumulation story of the week. On 29 July, Yuga Stocks and Commodities Private Limited bought 11.5 lakh shares (INR 35.3 crore) and sold only 1.5 lakh (INR 4.7 crore). The same client building a net ~10 lakh-share position in a single sitting. On the other side, MTARTECH saw the week's largest net reduction. BNP Paribas Financial Markets bought INR 14.2 crore worth on 30 July but sold INR 116.8 crore, a sizeable single-session trim by one participant.
Track the full list, updated daily, on the Smart Money page.
All figures are from NSE end-of-day bhavcopy data for 27–31 July 2026, as published on bhavcopydata.com. See the ETF, Corporate Bonds, and SME pages for the full daily breakdown.