NSE was open all five sessions this week. Across ETFs, corporate bonds and SME stocks, roughly INR 10,341.1 crores changed hands, alongside another INR 54,853.4 crores in block and bulk deals, though a large share of that second figure came from two internal ownership transfers rather than genuine institutional trading, detailed below. ETF breadth was firmly negative at 51 funds up against 248 down, dragged lower by the two international funds that led last week's rally now reversing hard. SME breadth was close to even, 272 up against 259 down, and one stock appeared to have halved before turning out to be a bonus issue rather than a crash. Corporate bonds stayed thin, as usual. Block and bulk flow swung sharply negative on both Monday and Friday, for two very different reasons. Here is the detail, based on insights from bhavcopydata.com.
ETFs, last week's rally fully unwinds
ETFs carried INR 8,633.8 crores of the week's lane turnover, the average fund down 0.40% on Tuesday and 1.09% on Thursday, with small gains on the other three days. Breadth finished negative, 51 funds up against 248 down and 7 unchanged. No fund touched a fresh 52 week high or low all week, a contrast to most weeks on the site.
The Motilal Oswal Nasdaq Q-50 ETF (MONQ50), which closed the prior week up 83.2% on top of an already large gain the week before that, gave essentially all of it back. It fell 20.0% on Monday, another 20.0% on Tuesday and 20.0% again on Wednesday, three straight sessions at what looks like its daily lower price band, before partial recoveries of 3.21% on Thursday and 2.47% on Friday. The week closed at INR 214.61, down 45.85% from the prior Friday's INR 396.30, and below where the fund traded as recently as 16 September. The Mirae Asset S&P 500 Top 50 ETF (MASPTOP50), the fund that moved almost in lockstep with MONQ50 during last week's spike, also reversed, falling 20.88% for the week after a 9.02% drop on Monday alone. Both funds falling together the same way they rose together supports the same explanation offered last week, a thin float running into and then out of a premium over net asset value, though bhavcopydata.com's data still cannot confirm the exact mechanism.
Excluding both funds, International trackers fell 2.51% on a turnover weighted basis against INR 276.7 crores of turnover, led down by the Motilal Oswal Nasdaq 100 ETF (MON100), off 1.88% on INR 155.0 crores, and the Mirae Asset NYSE FANG+ ETF (MAFANG), off 3.89% on INR 98.3 crores. Equity Index funds slipped 0.48% on a turnover weighted basis, Sector and Thematic funds fell 0.90%, and Debt funds were roughly flat at plus 0.07%, the steadiest category on the site this week as usual.
Corporate bonds, another very thin week
Corporate bonds traded just INR 25.7 crores across 275 bonds. Breadth was mildly positive, 128 up against 118 down and 29 unchanged, and 24 bonds touched a fresh 52 week high against 12 at a 52 week low. As in prior weeks, the weekly change table is dominated by moves on almost no turnover. A 12% VPT NCD maturing 2028 (12VPT28A) fell 35.86% for the week, but that move came from two single unit trades on Tuesday and Wednesday meeting a stale quote, not a real repricing. We do not treat figures like this as genuine price moves.
SME, a bonus issue that briefly looked like a collapse
SME stocks traded INR 1,681.6 crores across 542 names, with breadth close to even at 272 up and 259 down. 17 stocks touched a fresh 52 week high against 16 at a 52 week low.
Chavda Infra Limited (CHAVDA) needs its own explanation before anything else. The stock closed Wednesday at INR 140.00, then opened Thursday at INR 74.00 and closed at INR 70.30, a single day fall of 49.79%. NSE's own corporate action indicator on bhavcopydata.com flags Thursday's row with the code XB, present only on that single day. Dividing INR 140.00 by INR 70.30 works out to almost exactly 2, consistent with a 1 for 1 bonus issue, where one new share is issued for every one already held and the price roughly halves to keep total holder value unchanged. The stock recovered 4.27% on Friday to close at INR 73.30. We flag this with reasonable confidence given the corporate action code and the clean ratio, and we exclude CHAVDA from every mover figure in this section.
Spectraa Tech Solutions Limited (SPECTRAA) also shows an extreme move, up 99.49% on Thursday, its first day of trading on bhavcopydata.com, followed by a further 4.99% on Friday. This reads as a fresh SME listing finding its first week of trading range rather than a comparable weekly mover, and we exclude it from the gainers list below for the same reason.
Away from those two, Presstonic Engineering Limited (PRESSTONIC) led ordinary gainers with a sustained five day climb, up 19.87% Monday, 14.35% Tuesday, a small 2.92% pullback Wednesday, then 19.82% Thursday and 9.95% Friday, closing the week up 75.29% on turnover that grew from under INR 3 lakhs a day in early September to over INR 1.3 crores by Thursday, a real and building move rather than a single spike. Sat Kartar Life Limited (SATKARTAR) climbed steadily every session to close up 31.35%, and Kaushalya Logistics Limited (KLL) rose 37.19%, both on rising turnover through the week. Mos Utility Limited (MOS), a stock priced under INR 10, extended a recovery that began in the prior week to close up 45.45%. Rajgor Cast Derivatives Limited (RCDL-RE) rose 65.31% over three trading days this week, though on total turnover of only about INR 25 lakhs and a share price still under INR 5, a caveat worth keeping in mind against the size of the percentage move. On the other side, Chavda Infra's bonus adjusted comparison aside, Kore Digital Limited (KDL) fell 26.54% and Vinod Texworld Limited (VINOD) fell 22.45%, both on modest turnover.
This week in smart money, two internal transfers and one clean exit
Block and bulk deals totalled INR 54,853.4 crores across 151 stocks this week, of which 54 were net bought. Daily flow was sharply negative on Monday at negative INR 2,389.3 crores, recovered to a smaller negative INR 83.9 crores on Tuesday, stayed mildly negative through Wednesday and Thursday, then swung to negative INR 2,705.0 crores on Friday. One caveat on these totals, a trade reported through both the block and bulk windows can appear twice in the combined figures above, so the true distinct value is lower than the headline number, though the direction of daily flow is unaffected.
Monday's swing came almost entirely from one trade. Platinum Jasmine A 2018 Trust sold 3.5 crore shares of Lenskart Solutions Limited (LENSKART) at INR 683.02 each, a single bulk deal worth INR 2,390.6 crores, with no offsetting block or bulk buy recorded in the stock all week, close enough to Monday's entire negative flow of INR 2,389.3 crores to explain nearly all of it by itself.
Friday's swing looks similarly large but comes from a reporting quirk rather than real selling pressure. Infinite Trade And Investment Ltd sold 86 lakh shares of Adani Enterprises Limited (ADANIENT) at INR 2,905.00 each, a trade worth INR 2,498.3 crores. The buy side was split between two other Adani group entities, Adani Properties Pvt Ltd and Adani Infra (India) Limited, whose purchases sum to the exact same value as the sale, an internal transfer within the promoter group rather than institutional activity. The sale alone was large enough to also cross the separate bulk deal disclosure threshold on its own, so it appears twice in bhavcopydata.com's combined figures, while each smaller buy leg only crossed the block deal threshold once. That asymmetry, not genuine selling, is what pushes Friday's combined total to a negative INR 2,705.0 crores. A related party transfer in Aventis Pharma Limited (SANOFI) on Thursday, Hoechst GmbH selling INR 1,068.2 crores of shares to Sanofi Healthcare India Private Limited, shows the more common pattern, both the buy and sell legs crossed both disclosure windows equally, so it left no net mark on that day's flow at all.
Away from those two, RHI Magnesita India Limited (RHIM) saw a genuine institutional handover on Tuesday. Dalmia Bharat Refractories Limited sold INR 825.9 crores of shares, absorbed almost exactly by SBI Mutual Fund at INR 600.0 crores, Bandhan Mutual Fund at INR 100.0 crores, Nippon India Mutual Fund at INR 89.9 crores and Clarus Capital 1 at INR 36.0 crores, a clean stake handover to a set of mutual funds rather than a one sided sell. Welspun Living Limited (WELSPUNLIV) followed a broadly similar pattern on Wednesday, Welspun Group Master Trust selling INR 525.9 crores, met mostly by Fidelity's international small cap and blue chip growth funds alongside Quant Mutual Fund, though a modest net sell remained after the two disclosure windows are combined. SEDEMAC Mechatronics Limited (SEDEMAC) drew the widest single day participation of the week, also on Thursday, with 25 distinct buyers and sellers including T Rowe Price, Franklin Templeton, the Government of Singapore and several domestic mutual funds, consistent with a lock in expiry releasing shares to a broad set of new holders rather than one clear buyer or seller.
On the buy side away from these stories, Dalmia Bharat Limited (DALBHARAT) was net bought by INR 184.3 crores and Optiemus Infracom Limited (OPTIEMUS) by INR 144.3 crores, both without any large single day story attached. We checked whether any of this week's largest net buy names also showed up building futures positions in the same direction this week, and found no overlap, so there is no crossover to report.
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 21 to 25 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.