The Nifty 50 index gained 7.5% last week, rising past 25,000 levels by Friday. This rally got a boost as bearish leveraged positions in the Margin Trading Facility book got liquidated. HDFC Bank saw the biggest drop in positions, while Reliance Industries saw its exposure grow to nearly ₹5,000 crore.

The Nifty 50 index gained 7.5% in the week gone by led mainly by the largecap stocks that took the index from the lows of 22,500 to past 25,000 levels by the time trading closed on Friday. The rally seen in largecap stocks could have also been accelerated due to one significant factor - the bearish leveraged positions that got liquidated, as per trends available in the Margin Trading Facility (MTF) book during this period.

Based on the data analysed from the NSE MTF book between October 30 - November 6, 2026, most of the stocks that saw a decline in their MTF positions were Nifty 50 constituents.

The biggest liquidation in positions came from HDFC Bank, whose positions declined by ₹883 crore, to just over ₹2,100 crore as of November 6, whereas the figure at the end of October 30 stood at nearly ₹3,000 crore.

HDFC Bank shares jumped 14% last week, the best seen by India's largest private lender since February 2021.

The second biggest decline in positions came on BSE, where positions declined by ₹435 crore between October 30 to November 6. BSE shares were up 8.5% in the week gone by.

Similarly, shares of Jio Financial, M&M, Bajaj Finance, ICICI Bank, and L&T, saw their leveraged positions decline between ₹120 crore to as much as ₹170 crore during this seven-day stretch. All of these stocks gained between 6% to 15% in the week gone by.

Even as the Nifty rallied 7.5% last week, the overall MTF book size declined by ₹324 crore to remain at ₹1.43 lakh crore, having witnessed its first monthly decline in nearly eight months in October. Among the 2,258 stocks on the MTF book, 1,107 stocks saw a decline in positions during the seven-day period, while 1,030 stocks saw an increase.

Reliance Industries, after its historic move last Monday, saw its MTF positions grow by over 65% and are now nearing the ₹5,000 crore mark, becoming the stock with the biggest exposure in the MTF book. Newly listed Jio Platforms, within a few days of making its stock market debut, already has leveraged positions worth nearly ₹2,400 crore.

PI Industries, Divi's Labs, Syrma SGS saw their positions go up by over ₹100 crore during the seven-day period.