NSE was closed on Tuesday 20 October, so this was a four session week. Across ETFs, corporate bonds and SME stocks, roughly INR 11,673.1 crores changed hands, alongside another INR 14,732.2 crores in block and bulk deals. Breadth was weak everywhere that trades stocks, ETFs closed 31 up against 275 down, and SME stocks closed just 85 up against 447 down. Corporate bonds held up in relative terms, close to an even split with more fresh 52 week highs than lows. Four international ETFs fell together on what looks like genuine global weakness rather than the thin float spikes covered in earlier posts. Here is the detail, based on insights from bhavcopydata.com.
ETFs, four international funds fall together
ETFs carried INR 10,557.5 crores of the week's lane turnover, the average fund down every single session, from 0.78% on Monday to 1.28% on Friday. Breadth finished sharply negative, 31 funds up against 275 down and 4 unchanged. No fund touched a fresh 52 week high all week, against 3 that touched a fresh low.
The Mirae Asset NYSE FANG+ ETF (MAFANG) fell 11.27% for the week on INR 102.9 crores of turnover, the Motilal Oswal Nasdaq 100 ETF (MON100) fell 8.95% on INR 141.0 crores, the Motilal Oswal Nasdaq Q-50 ETF (MONQ50) fell 9.75% on INR 45.4 crores, and the Mirae Asset S&P 500 Top 50 ETF (MASPTOP50) fell 8.20% on INR 25.3 crores. Unlike the 20% circuit moves these same funds have shown in earlier weeks, every daily move this week stayed under 7%, and the decline built steadily through the week rather than spiking on one session. MAFANG fell 6.22% on Friday alone as its turnover nearly doubled to INR 37.3 crores, and MON100's Friday turnover reached INR 61.0 crores, more than double its Monday level. Four funds tracking different slices of the same United States technology market falling together, on rising volume, through the week points to a real shared move rather than an isolated thin float squeeze.
Away from the international funds, the UTI Nifty IT ETF (ITBETA) rose 1.19%, the SBI Nifty IT ETF (SBIETFIT) rose 0.71%, and the Axis Nifty IT ETF (ITAXIS) rose 0.65%, modest gains on modest turnover but among the only green names on the page. On the other side, the Motilal Oswal Nifty Alpha 50 ETF (MOALPHA50) fell 8.16%, the Mirae Asset BSE Select IPO ETF (SELECTIPO) fell 10.34%, the DSP BSE Insurance ETF (INSURADD) fell 10.89%, and the Motilal Oswal Nifty MNC ETF (MOMNC) fell 12.17%.
Corporate bonds, thin as usual but holding up better than equities
Corporate bonds traded just INR 25.4 crores across 254 bonds. Breadth was close to even, 116 up against 119 down and 19 unchanged, and 22 bonds touched a fresh 52 week high against 10 at a 52 week low, a better ratio than either ETFs or SME managed this week. A secured redeemable NCD maturing 2028 (971SCL28A) fell 20.83% for the week, but that move came from a single trade of 45 units meeting a stale quote, not a real repricing. We do not treat figures like this as genuine price moves.
SME, breadth collapses alongside the broader market
SME stocks traded INR 1,090.2 crores across 543 names, with breadth sharply negative at 85 up and 447 down. 5 stocks touched a fresh 52 week high against 32 at a 52 week low. Every day this week closed with the average SME stock down, from 0.84% on the mildest day to 2.29% on the worst.
C K K Retail Mart Limited (CKKRETAIL) was the clearest exception, up 15.19% on INR 11.0 crores of turnover, real liquidity behind the move. Vivid Electromech Limited (VIVIDEL) sat at the other end, down 25.65% on INR 45.9 crores, the largest turnover among this week's SME movers in either direction. Most of the rest of the week's biggest percentage movers, both up and down, traded on turnover too thin to read as more than noise.
This week in smart money, a market maker's footprint and a fresh listing
Block and bulk deals totalled INR 14,732.2 crores across 95 stocks this week, of which a slim majority were net bought. Daily flow stayed positive on three of the four sessions, plus INR 46.2 crores on Monday, plus INR 124.0 crores on Wednesday, negative INR 64.8 crores on Thursday, then plus INR 323.6 crores on Friday.
PC Jeweller Limited (PCJEWELLER) carried the week's largest combined block and bulk value by a wide margin, INR 4,206.4 crores across the four sessions, but the number is misleading on its own. Three proprietary trading firms, Jump Trading Financial India Private Limited, HRTI Private Limited and QE Securities LLP, each bought and sold nearly identical values of the stock across the week, the signature of market makers providing liquidity rather than taking a position. Jump Trading alone accounted for 62.8% of the stock's total deal value, buying INR 1,310.7 crores and selling INR 1,330.0 crores, a near perfectly matched book. The one clearly one sided buyer was an individual investor, Aditya Kumar Halwasiya, who bought INR 101.3 crores with no offsetting sell.
Tonbo Imaging India Limited (TONBO) made its first appearance in bhavcopydata.com's deal data this week, every one of its 25 distinct block and bulk trades landing on Friday alone, consistent with a recent listing. HDFC Mutual Fund bought INR 117.7 crores across two trades and Bajaj Life Insurance Limited bought INR 102.1 crores, while Yali Deeptech Fund I sold INR 256.6 crores, an early holder exiting into the new listing's first week of institutional demand.
A single pair of counterparties also moved INR 895.8 crores across three unrelated stocks the same day. On Wednesday, PI Opportunities AIF V LLP bought Adani Energy Solutions Limited (ADANIENSOL), Manipal Health Enterprises Limited (MANIPALHOS) and Shriram Pistons & Rings Limited (SHRIPISTON) in block deals worth INR 660.8 crores, INR 119.6 crores and INR 115.4 crores respectively, every rupee of it sold by Prazim Trading And Investment Company Private Limited. The matched values across three separate companies on one day point to a coordinated transfer between these two entities rather than three independent trading decisions.
Real institutional buying still showed up away from these stories. Catamaran Ventures LLP and Equism Capital Private Limited bought a combined INR 174.9 crores of Bonfiglioli Transmission Limited (BONFIG) on Friday, Invesco Mutual Fund bought INR 134.3 crores of Sahajanand Medical Technologies Limited (SMT) the same day, and Allianz Global Investors GmbH bought INR 55.7 crores of HD Fire Protect Limited (HDFIRE) on Wednesday. On the sell side, BNP Paribas Financial Markets sold INR 61.1 crores of Fusion CX Limited (FUSIONCX) on Thursday with no offsetting buy, the week's clearest one sided institutional exit. We checked whether any of this week's largest net buy names also showed up building futures positions in the same direction, 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 19 to 23 October 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.