MTF book adds ₹8,682 crore in April after March liquidation

The Indian margin trading facility (MTF) landscape witnessed a sharp reversal in April 2026, as leveraged investors returned to the markets with renewed confidence. The industry MTF book added ₹8,682.39 crore during the month, pushing the total outstanding to ₹1,16,163.25 crore by 30 April 2026. This recovery followed a net liquidation of ₹9,663.56 crore in March, which was driven by massive FII outflows, rising geopolitical tensions, and corrections in major indices.

The data indicates a shift from the risk-off positioning seen in March to a more confident risk-on approach among retail and leveraged delivery investors. The MTF book crossing ₹1.16 lakh crore underlines the continued adoption of margin funding as a strategic investing tool in India.

Top Traded Stocks in April

HDFC Bank topped the list of top traded stocks using MTF in April 2026, securing a funded amount of ₹1,982.09 crore. Jio Financial Services and Infosys followed with funded amounts of ₹1,453.24 crore and ₹1,352.57 crore, respectively. The table below details the top traded stocks for the month.

Company	Funded Qty	Funded Amt (Cr)	Exposure	LTP	Margin on Dhan
HDFC Bank	2,37,92,578	1,982.09	1.71%	779.40	4.55x
Jio Financial Services	5,32,11,120	1,453.24	1.25%	252.74	4.35x
Infosys	1,03,66,947	1,352.57	1.16%	1,168.40	4.55x
Tata Consultancy Services	39,34,841	1,117.30	0.96%	2,431.30	4.55x
Eternal	4,06,30,186	1,071.27	0.92%	251.90	3.87x
Reliance Industries	75,15,300	1,062.40	0.91%	1,463.10	4.55x
Hindustan Aeronautics	23,23,885	1,049.38	0.90%	4,559.50	4.17x
ITC	2,83,86,247	962.27	0.83%	311.10	4.55x
CDSL	62,73,415	901.90	0.78%	1,238.30	3.90x
Mazagon Dock Shipbuilders	31,72,197	889.68	0.77%	2,611.60	3.42x

New MTF Position Additions

Waaree Energies led the list of new MTF position additions with ₹197.09 crore added in April. Garden Reach Shipbuilders and Tata Steel also saw significant fresh leveraged buying, adding ₹50.80 crore and ₹38.50 crore respectively.

Company	Added Qty	Added Amt (Cr)	Exposure	LTP	Margin on Dhan
Waaree Energies	6,29,007	197.09	0.61%	3,136.30	3.33x
Garden Reach Shipbuilders	1,69,859	50.80	0.37%	2,778.30	2.44x
Tata Steel	18,07,762	38.50	0.21%	212.24	4.35x
NALCO	9,08,463	37.38	0.19%	407.80	3.54x
Emmvee Photovoltaic Power	11,90,291	32.21	0.10%	267.35	3.01x

MTF Positions Liquidated

Conversely, Vedanta recorded the highest MTF positions exit with ₹152.04 crore liquidated during the month. Other major exits included Infosys and Hindustan Aeronautics, which saw liquidations of ₹92.92 crore and ₹82.69 crore respectively.

Company	Liquidated Qty	Liquidated Amt (Cr)	Exposure	LTP	Margin on Dhan
Vedanta	-6,48,363	-152.04	0.37%	294.65	4.01x
Infosys	-7,37,747	-92.92	1.16%	1,168.40	4.55x
Hindustan Aeronautics	-1,81,176	-82.69	0.90%	4,559.50	4.17x
Reliance Industries	-5,82,814	-80.39	0.91%	1,463.10	4.55x
Tata Consultancy Services	-2,71,080	-76.91	0.96%	2,431.30	4.55x

The April 2026 MTF data highlights the regaining of trust of market participants in the Indian equity market. The net book addition indicates that leveraged investors re-entered large-cap heavyweight stocks and showed growing interest in emerging sectoral themes.

Dhan , one of India's fastest-growing trading and investment platforms, has introduced Gold Vault , enabling Indian investors to purchase physical gold and silver at MCX live prices. Launched on April 29, 2026, in Mumbai, this first-of-its-kind investment product allows investors to buy physical gold and silver at exchange-traded prices with the option of physical delivery at their doorsteps after settlement.

What is Gold Vault by Dhan

Gold Vault by Dhan is a SEBI-regulated investment product that provides retail investors access to MCX bullion futures contracts. Investors have the option to receive physical delivery of gold and silver at the same MCX live prices available to institutional investors. Every Gold Vault purchase is routed through MCX futures settlement and cleared through MCXCCL (MCX Clearing Corporation Limited), eliminating markups, hidden spreads, and counterparty risks associated with conventional digital gold platforms in India.

The gold and silver purchased through Gold Vault are stored in exchange-regulated, MCX-partnered vaults and tracked by ComRIS (Commodity Receipts Information System) accounts—the same institutional infrastructure used by commodity market participants.

Key Features and Benefits

Gold Vault addresses several challenges associated with physical gold investment in India, including high making charges from jewellers, markups on online platforms, and lack of transparency in regulation and authentication. The product offers:

Real-time exchange prices based on live MCX prices without markups and hidden charges
999 purity bullion
SEBI-regulated operation within the capital markets ecosystem, reducing counterparty risk
Secure vaulting in MCX-partnered vaults offering institutional security
Doorstep delivery in all major cities and towns

Available Denominations

Gold Vault provides a wide range of gold and silver denominations, allowing investors to choose according to their budget:

Metal	Denomination	MCX Contract Name
Gold	1gm	GOLD PETAL
Gold	8gm	GOLD GUINEA
Gold	10gm	GOLD TEN
Gold	100gm	GOLD MINI
Gold	1Kg	GOLD
Silver	1Kg	SILVER MICRO
Silver	5Kg	SILVER MINI
Silver	30Kg	SILVER

These multiple denominations allow investors to start investing with as little as 1 gram of gold or 1kg of silver, making it suitable for both HNIs and new investors with limited budgets.

Leadership Perspective

Pravin Jadhav, Founder & CEO, Dhan, emphasized the product's significance: "Gold has always been the most trusted store of value for Indian families; the experience of actually buying, holding, and trusting digital gold has been outside regulatory purview. While building Gold Vault, we asked a simple question - what would it take for an investor to feel completely safe buying & owning Gold or Silver digitally? The answer was exchange settlement contracts, regulated vaulting, and zero counterparty risk. We built exactly that."

Jay Prakash Gupta, Founder & COO, Dhan, added: "By routing every purchase through actual MCX futures settlement and MCXCCL clearing, we've eliminated the structural risks that have quietly plagued digital gold products in India. The price is exchange-benchmarked, the delivery is physically settled, and the storage is institutionally regulated."

Praveena Rai, MD & CEO, MCX, endorsed the launch: "By combining Exchange-led liquidity and price discovery with regulated infrastructure, investors can now invest in gold via futures with confidence, backed by transparent pricing, settlement, secure vaulting and seamless delivery."

How to Access Gold Vault

Investors can access Gold Vault directly through the Dhan app by activating their Dhan account, selecting their preferred gold and silver denomination, buying the selected MCX futures contract at live exchange prices, and choosing either physical delivery post settlement or storage in the MCX-partnered vault.