Across ETFs, corporate bonds and SME stocks, roughly INR 19,219.6 crores changed hands this week (31 August to 4 September), alongside another INR 51,639.6 crores in block and bulk deals. ETF breadth stayed heavily negative at 69 funds up against 273 down, even after a two day recovery on Thursday and Friday, as silver and gold ETFs led the turnover lower. SME breadth also skewed negative at 240 up against 288 down, but the lane carried two clean upper circuit breakouts, and corporate bond trading stayed thin and orderly. Block and bulk flow ran a net negative week as several global funds trimmed large positions. Here is the detail, based on insights from bhavcopydata.com.
ETFs, the precious metal complex leads a soft week
Around INR 17,665.4 crores of the week's lane turnover was in ETFs, the tape falling for three straight sessions before a partial recovery, with the average fund down 0.72% on Monday, 0.55% on Tuesday and 0.50% on Wednesday, then up 0.47% on Thursday and 0.21% on Friday. Breadth still finished the week lopsided, 69 funds up against 273 down.
Commodity ETFs were the single largest turnover bucket at INR 9,348.6 crores and fell 3.06% on a turnover weighted basis, the weakest category of the week. The Nippon India Silver ETF (SILVERBEES) was the most traded fund on the site at INR 2,495.2 crores and fell 3.32%, the Nippon India Gold ETF (GOLDBEES) traded INR 2,150.8 crores and fell 2.81%, and the Tata Silver ETF (TATSILV) traded INR 513.9 crores and fell 3.21%. Every silver linked ETF on the board, including the Zerodha Silver ETF (SILVERCASE), the Kotak Silver ETF (SILVER1), the UTI Silver ETF (SILVERBETA) and the Quant Silver ETF (SILVER001), fell between 3.39% and 3.59%, a broad pullback across the whole complex rather than one fund lagging its peers.
Debt ETFs held up best, essentially flat at plus 0.07% on a turnover weighted basis, while Equity Index ETFs slipped 0.58% and International ETFs fell 0.56%. Sector and Thematic ETFs averaged negative 0.69%, a blend of sharp individual losers and a few gainers. Auto and EV linked funds were the sharpest fallers, the ICICI Prudential Nifty Auto ETF (AUTOIETF) down 3.71% on INR 12.5 crores, the Nippon India Nifty Auto ETF (AUTOBEES) down 3.57% on INR 40.1 crores, the ICICI Prudential EV and New Age Automotive ETF (EVIETF) down 3.56%, and the Mirae Asset EV India ETF (EVINDIA) down 3.39%. Public sector and energy names were the exceptions, the CPSE ETF (CPSEETF) up 1.01% on INR 32.9 crores and the ICICI Prudential Oil and Gas ETF (OILIETF) up 1.25% on INR 12.3 crores. Only one fund touched a fresh 52 week high all week, the Shriram Liquid ETF (LIQUIDSHRI), against one 52 week low in a gilt fund, the DSP 10 Year G Sec ETF (GSEC10ADD).
Corporate bonds, a very quiet and orderly week
Corporate bonds were the calmest lane by a wide margin again. Just INR 28.5 crores traded across 267 bonds, with breadth mildly positive at 130 up against 111 down. 29 bonds ticked to fresh 52 week highs against 7 at 52 week lows, matching the mild positive tilt in the average daily change, which ranged between negative 0.17% and positive 0.40% across the week. The most traded issue was a 9.05% Shriram Finance bond maturing 2036 (905SCL36) at INR 3.02 crores, followed by a 9.01% National Housing Bank bond (901NHB34) at INR 1.17 crores and an 8.52% Muthoot Finance bond (852MFL31) at INR 1.03 crores.
The weekly change table again shows a handful of bonds moving 15% or more, and again every one of those traded only a few thousand rupees across the week, a stale quote moving the percentage rather than any real trading. The largest liquid mover was an 8.71% REC tax free bond maturing 2028 (871REC28), down 0.37% on INR 0.71 crores. We do not treat any of the double digit percentage movers as genuine price changes, since none carried enough turnover to support one.
SME, two upper circuit breakouts against a soft tape
SME stocks traded INR 1,525.7 crores across 544 names, with breadth skewed negative at 240 up and 288 down. The lane fell through Monday and Tuesday, turned flat on Wednesday, then rallied through Thursday and Friday, average daily change moving from negative 0.51% to positive 0.65% across the week. Nine stocks made fresh 52 week highs against 27 at 52 week lows. The most traded name was V Marc India Limited (VMARCIND) at INR 101.55 crores, down 14.87% for the week, well ahead of Anondita Medicare Limited (ANONDITA) at INR 97.03 crores, up 4.59%, and Q Line Biotech Limited (QLINE) at INR 71.21 crores, up 16.51%.
Two names ran clean, multi day upper circuit breakouts. Aaradhya Disposal Industries Limited (AARADHYA) closed the week up 70.46%, rising from INR 65.00 to INR 110.80 through four upper circuit sessions in five, 20% on Monday, 20% on Tuesday, nearly 10% on Wednesday, a small pullback on Thursday, then another near 10% gain on Friday. Turnover climbed alongside the price, from about INR 78,000 a day the prior week to INR 4.2 crores on Friday alone. Pentagon Rubber Limited (PENTAGON) rose 61.37% for the week, entirely in the back half, three straight upper circuits starting Wednesday that took the stock from INR 52.00 to INR 82.30 by Friday, with turnover rising from roughly INR 51,000 a day to INR 27.2 lakhs. Both moves were isolated to the individual stock on each of the days they happened, not part of a wider SME rally, and both carried rising volume alongside the price gain, so we read both as genuine breakouts rather than data artifacts.
A rights entitlement in Rajgor Cast Derivatives Limited (RCDL-RE) screened as the week's biggest faller at negative 69.38%, in its first week of trading. Its price tracks the economics of the rights issue itself, not the parent company's ordinary trading, so we leave it out of the mover figures, the same treatment SUN-RE received in the prior wrap. Among ordinary equity, V Marc India Limited (VMARCIND) was the largest real decliner by turnover, down 14.87% on INR 101.55 crores, with Anawil Wire and Engineering Limited (ANAWIL) down 6.57% on INR 51.82 crores.
Circuit watch counted 57 SME stocks closing at a price band on Friday, and 115 distinct SME stocks hit an upper or lower circuit at least once during the week.
This week in smart money, global funds trim large positions
Block and bulk deals totalled INR 51,639.6 crores across 146 stocks this week, of which 63 were net bought. Net flow was negative INR 7,511.2 crores, a clear net selling week. Meesho Ltd (MEESHO) was the most active name by far at INR 4,951.2 crores of combined turnover, as SVF II Meerkat (DE) LLC, a SoftBank Vision Fund entity, sold a large block on 3 September that a wide group of domestic and foreign institutions absorbed, including HDFC Standard Life Insurance, Franklin Templeton Mutual Fund and the Government Pension Fund Global through Norges Bank.
Eternal Limited (ETERNAL) was net sold by INR 3,262.4 crores, almost entirely on 31 August, as BNP Paribas Financial Markets sold INR 1,670.9 crores and Integrated Core Strategies Asia Pte Ltd sold INR 1,594.0 crores. Laurus Labs Limited (LAURUSLABS) was net sold by INR 2,715.3 crores the same day, BNP Paribas selling INR 1,200.7 crores, Integrated Core Strategies selling INR 982.7 crores and Societe Generale selling INR 535.1 crores. EPL Limited (EPL) was net sold by INR 1,148.3 crores after Epsilon Bidco Pte Ltd sold INR 2,032.3 crores on 1 September, a sale that Quant Mutual Fund, the Public Sector Pension Investment Board and the Abu Dhabi Investment Authority helped absorb on the buy side. Lenskart Solutions Limited (LENSKART) was net sold by INR 820.2 crores, even as BlackRock Emerging Markets Fund Inc bought INR 1,876.3 crores, because Societe Generale, Integrated Core Strategies and BNP Paribas sold a combined INR 2,679.2 crores the same day.
Swiggy Limited (SWIGGY) was the week's largest net buy at INR 1,041.0 crores, entirely on 4 September, split between Goldman Sachs Investments Mauritius I Limited at INR 549.0 crores and BNP Paribas Financial Markets at INR 492.0 crores. Astral Limited (ASTRAL) was net bought by INR 774.6 crores, led by BNP Paribas at INR 568.5 crores, and Ather Energy Limited (ATHERENERG) was net bought by INR 445.3 crores in a single trade from BlackRock Global Funds.
Track the full list, updated daily, on the Smart Money page. More insights are on bhavcopydata.com.
All figures are from NSE end of day bhavcopy data for 31 August to 4 September 2026, as published on bhavcopydata.com. See the ETF, Corporate Bonds, and SME pages for the full daily breakdown, and follow the author at @psanivarapu or prashanthsanivarapu for more.