Across ETFs, corporate bonds and SME stocks, roughly INR 11,313.6 crores changed hands this week (7 to 11 September), alongside another INR 29,986.2 crores in block and bulk deals. ETF breadth turned sharply negative at 45 funds up against 255 down, even as a handful of Nasdaq and NYSE FANG+ linked funds put in the strongest gains anywhere on the site this week. SME breadth stayed close to even at 243 up against 281 down, but one stock extended a lower circuit streak that has now run sixteen straight sessions. Corporate bond trading stayed thin and orderly. Block and bulk flow was roughly balanced through Thursday before swinging sharply negative on Friday alone, after a large promoter sale in Granules India Limited (GRANULES). Here is the detail, based on insights from bhavcopydata.com.
ETFs, Nasdaq linked funds rally as domestic IT slides
ETFs carried INR 9,297.6 crores of the week's lane turnover, the average fund down 0.45% on Monday, up 0.10% on Tuesday, down 0.35% on Wednesday, down 0.40% on Thursday and down 0.08% on Friday. Breadth finished heavily negative, 45 funds up against 255 down and 5 unchanged. Only 2 funds touched a fresh 52 week low all week, and none reached a fresh 52 week high.
International ETFs were the standout category, up 8.38% on a turnover weighted basis against INR 447.1 crores of turnover, excluding one extreme outlier discussed below. The Mirae Asset NYSE FANG+ ETF (MAFANG) rose 13.49% on INR 148.0 crores, the Mirae Asset S&P 500 Top 50 ETF (MASPTOP50) rose 17.67% on INR 72.4 crores, and the Motilal Oswal Nasdaq 100 ETF (MON100) rose 2.51% on INR 199.8 crores, the highest turnover of the three. Sector and Thematic funds moved the opposite way, down 2.30% on a turnover weighted basis, led by a clean sweep across every IT linked ETF on the board. The Nippon India ETF Nifty IT (ITBEES) fell 5.63% on INR 174.8 crores, the Mirae Asset Nifty IT ETF (ITETF) fell 5.53%, and the HDFC Nifty IT ETF (HDFCNIFIT) fell 5.63%, a domestic technology pullback running in the opposite direction from the Nasdaq linked rally in the same week. Equity Index funds slipped 1.17% on a turnover weighted basis, and Debt funds were essentially flat at plus 0.08%.
One outlier needs its own line. The Motilal Oswal Nasdaq Q-50 ETF (MONQ50) closed the week up 52.43%, rising from INR 141.93 to INR 216.35 on turnover that jumped from about INR 25 lakhs a day the prior week to as much as INR 43.0 crores on Wednesday alone. The move was not a single day spike followed by a reversal. It built across all five sessions, each one on rising volume, which points to sustained buying pressure against a thin float rather than a data error. We exclude it from the category average above because a single fund this size would distort what International ETFs did as a group, but the move itself is real and worth flagging on its own.
Corporate bonds, another very thin week
Corporate bonds traded just INR 28.1 crores across 286 bonds, one of the thinnest weeks measured on the site. Breadth was almost dead even, 132 up against 121 down and 33 unchanged. 24 bonds touched a fresh 52 week high against 9 at a 52 week low, a mildly positive tilt that lines up with the small gains in average daily change through midweek. The most traded issue was an 8.7% Hyderabad Metropolitan Development Authority bond maturing 2039 (87HMDA39) at INR 4.2 crores, though on only two recorded trading days so far, up 7.41% for the week.
As in prior weeks, the weekly change table for corporate bonds is full of double digit movers that carried almost no turnover, a stale quote from weeks earlier meeting a single fresh trade rather than any real repricing. We do not treat any of those as genuine price changes.
SME, a sixteen session circuit streak and a pair still moving together
SME stocks traded INR 1,987.9 crores across 542 names, with breadth mildly negative at 243 up and 281 down. 24 stocks touched a fresh 52 week high against 22 at a 52 week low. Circuit watch counted 53 stocks closing at a price band on Friday, and 117 distinct stocks hit an upper or lower circuit at least once during the week.
Visaman Global Sales Limited (VISAMAN) was the week's clearest circuit story. The stock has hit its lower circuit on every single trading day since 21 August, sixteen consecutive sessions through Friday, falling from INR 102.25 to INR 47.60 over that run. This week alone accounted for a 22.48% leg of that decline, from INR 61.40 to INR 47.60, even as daily turnover on the name stayed under INR 5 lakhs most days, typical for a stock parked at its band with almost nothing changing hands once the limit is hit. Fascinate Textiles Limited (FASCINATE) was the other real decliner, down 26.74% on INR 13.43 crores, hitting its lower circuit on 3 of the 5 sessions this week after a similar slide through late August.
Two names extended circuit streaks that bhavcopydata.com's own analysis flagged as unusually correlated last week. M.V.K. Agro Food Products Limited (MVKAGRO) rose 26.85% on INR 65.2 crores, its upper circuit streak now at twelve consecutive sessions since 26 August, from INR 168.05 at the start of that run to INR 299.80 by Friday. Polysil Irrigation Systems Limited (POLYSIL) rose 15.27% on INR 6.5 crores, but its own eleven session upper circuit run ended on Friday, when the stock hit both its upper and lower band in the same session and closed down 4.98%. One half of the pair breaking its streak while the other keeps running is itself a data point worth watching given last week's finding.
Away from the circuit board, Avience Biomedicals Limited (AVIENCE) led ordinary movers by turnover, up 40.13% on INR 10.65 crores, followed by RBM Infracon Limited (RBMINFRA) up 33.64% on INR 13.62 crores, Curis Lifesciences Limited (CURIS) up 31.05% on INR 6.2 crores, DCG Cables and Wires Limited (DCG) up 29.51% on INR 5.35 crores, and Kataria Industries Limited (KATARIA) up 29.32% on INR 3.72 crores.
Two stocks debuted this week and are excluded from every figure above. Ashutosh Fibre Limited (ASHUTOSH) closed its first week of trading at INR 164.50, up 78.8% from its reference price on INR 80.0 crores of turnover, and Shanti Inorganics Limited (SHANTIINOR) closed at INR 184.95, up 122.83% on INR 73.8 crores. Both figures describe price discovery on a new listing rather than a week over week move, so we keep them separate from the mover list. Two rights entitlements also screened as large fallers this week, one tied to Manas Poly N Energy Limited (MPEL-RE) and the other to Anondita Medicare Limited (ANOND-RE). Their prices track the economics of the underlying rights issue rather than the parent company's ordinary trading, the same treatment RCDL-RE and SUN-RE received in prior wraps, so we leave them out of the mover figures too.
This week in smart money, a promoter sale anchors Friday's flow
Block and bulk deals totalled INR 29,986.2 crores across 143 stocks this week, of which 74 were net bought. Daily flow was roughly balanced through Thursday, negative INR 50.4 crores on Monday, negative INR 48.5 crores on Tuesday, positive INR 29.5 crores on Wednesday and positive INR 44.4 crores on Thursday, before swinging to negative INR 1,176.4 crores on Friday alone. One caveat on these totals, a block trade that is also reported through the bulk window can appear twice in the combined figures above, so the true distinct value is somewhat lower, though the direction of the week's flow is unaffected.
Granules India Limited (GRANULES) was almost entirely responsible for the Friday swing. Krishna Prasad Chigurupati sold 13.3 million shares at INR 872.50 and a further 3.9 million shares at INR 892.84, a combined 17.2 million shares on the sell side. The buy side was spread across more than fifteen institutions at the same INR 872.50 price, led by Smallcap World Fund Inc at INR 303.1 crores, BNP Paribas Financial Markets at INR 115.0 crores, Goldman Sachs Bank Europe SE at INR 102.4 crores, and Kotak Mahindra Life Insurance Company Limited at INR 100.7 crores.
MV Electrosystems Limited (MVELECTRO) was the most active name by turnover at INR 3,649.6 crores, almost all of it same day matched buy and sell pairs from a cluster of proprietary trading firms including Junomoneta Finsol, Microcurves Trading and QE Securities, a pattern of a stock being actively traded back and forth rather than a directional position building up. PC Jeweller Ltd (PCJEWELLER) showed a similar pattern across INR 3,038.5 crores, led by Jump Trading Financial India Private Limited buying and selling close to identical blocks across all five sessions.
On the buy side, ESDS Software Solution Limited (ESDS) was net bought by INR 94.0 crores in a single trade from Maithan Alloys Limited, and Rhetan TMT Limited (RHETAN) saw INR 67.8 crores of net buying spread across several individual buyers on Wednesday. BlackBuck Limited (BLACKBUCK) was net sold by INR 34.6 crores after Accel India IV (Mauritius) Limited exited a stake that Abakkus Investment Managers Private Limited largely absorbed on Friday.
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 7 to 11 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.