MTF Stress & Risk: How Fragile Is the Leverage?
The leverage stress index reads 63/100 (Elevated). At the 22 Oct 2026 close, financed shares were worth ₹1.32 lakh Cr against ₹1.47 lakh Cr financed: an unrealised loss of ₹14,104 Cr (-9.6%).
Leverage stress index
What drives it today
How the index is built
- Forced selling
- share of the book liquidated (5-day average). Today: 2.51%.
- Net deleveraging
- liquidation minus fresh buying, % of book (5 days). Today: 1.34%.
- Book drawdown
- how far the book sits below its own peak. Today: 3.06%.
- Breadth
- share of funded stocks whose book shrank (5-day average). Today: 60.01% of stocks.
- Holders' loss
- how far financed shares sit below their financed value. Today: 9.63%.
Each driver becomes the percentile of today's value among every session since 2017 up to today (no hindsight), and the index is their plain average. Calm below 50, Elevated 50–75, High 75–90, Extreme 90+.
Stress index since 2017
Margin holders' gains and losses only here
Holders' position over time
Weekly. Above zero, financed shares are worth more than they were financed for; below zero, margin holders as a group are underwater.
The book by holders' gain or loss
Each funded stock placed by how far its financed shares sit from the amount financed, weighted by book. Stocks past their exchange margin →
Concentration
Concentration over time
Share of the NSE book in the ten largest stocks, and the Herfindahl index (sum of squared % shares; higher = more concentrated).
Figures for the 22 Oct 2026 session · last updated 2026-10-26 20:38 IST · Source: Exchange data · 10/10 data checks passed.
How to read this page. Everything here describes what the exchanges have already disclosed about margin-funded (MTF) positions. It is not a forecast, a recommendation, or a signal to buy or sell. Words such as "crowded", "fragile" or "underwater" name a pattern in the numbers, nothing more. Margin funding carries the risk of losses larger than the money you put in.
Flash Finance is not a SEBI-registered investment adviser and is not affiliated with NSE, BSE or SEBI. Exchange data may be revised by the exchange. Verify anything you intend to act on against the exchange's own records.
