/images/ppid_59c68470-image-176999004712317446.webp)
/images/ppid_59c68470-image-176975015004458973.webp)
What is the story about?
The Nippon AMC Silver ETF became the most leveraged asset on the Margin Trading Facility book as on Friday, January 30, before the collapse seen in the global prices, data from the NSE MTF book shows.
Data from the MTF book dated January 30, 2026 shows that the net leveraged positions on the Nippon Silver ETF stood at ₹1,748.3 crore, surpassing Hindustan Aeronautics, which had remained the most leveraged stock on the MTF Book until then. Positions on HAL stood at ₹1,442 crore.
CNBC-TV18 had reported on January 22, as to how leveraged bets on Silver ETFs had seen a multi-fold jump from the start of December 2025, corresponding to the parabolic moves seen in the global spot prices.
Back on January 22, the leveraged positions on the Nippon Silver ETF stood at ₹1,178 crore, compared to ₹472 crore at the start of December last year. In the five trading sessions since, positions have increased by nearly ₹600 crore.
Silver prices took a sharp knock last Friday , with the 37% intraday plunge being the most on record. Spot Silver prices are down again as trading resumed on Sunday evening US hours. Spot Silver, which made a record high of $120-plus an ounce last week, is now fighting to hold levels of $80 in a matter of days.
The move in the global markets reflected in India on Sunday when trading was open on the day of the Union Budget. The Nippon Silver ETF itself fell 12%, while others Silver-linked ETFs fell between 9% to as high as 15%.
A stronger US Dollar triggered the sell-off in global commodities after US President Donald Trump picked Kevin Warsh as the next Fed Chair. The US Dollar rallied the most since May on Friday and continues to strengthen today as well.
The sell-off in global commodities has led to a rout in Indian Metal stocks as well, with the top names, led by Vedanta, Hindustan Zinc, Hindustan Copper, Hindalco and NALCO wiping out nearly ₹2 lakh crore in market capitalization across Friday and Sunday.
Data from the MTF book dated January 30, 2026 shows that the net leveraged positions on the Nippon Silver ETF stood at ₹1,748.3 crore, surpassing Hindustan Aeronautics, which had remained the most leveraged stock on the MTF Book until then. Positions on HAL stood at ₹1,442 crore.
CNBC-TV18 had reported on January 22, as to how leveraged bets on Silver ETFs had seen a multi-fold jump from the start of December 2025, corresponding to the parabolic moves seen in the global spot prices.
Back on January 22, the leveraged positions on the Nippon Silver ETF stood at ₹1,178 crore, compared to ₹472 crore at the start of December last year. In the five trading sessions since, positions have increased by nearly ₹600 crore.
Silver prices took a sharp knock last Friday , with the 37% intraday plunge being the most on record. Spot Silver prices are down again as trading resumed on Sunday evening US hours. Spot Silver, which made a record high of $120-plus an ounce last week, is now fighting to hold levels of $80 in a matter of days.
The move in the global markets reflected in India on Sunday when trading was open on the day of the Union Budget. The Nippon Silver ETF itself fell 12%, while others Silver-linked ETFs fell between 9% to as high as 15%.
A stronger US Dollar triggered the sell-off in global commodities after US President Donald Trump picked Kevin Warsh as the next Fed Chair. The US Dollar rallied the most since May on Friday and continues to strengthen today as well.
The sell-off in global commodities has led to a rout in Indian Metal stocks as well, with the top names, led by Vedanta, Hindustan Zinc, Hindustan Copper, Hindalco and NALCO wiping out nearly ₹2 lakh crore in market capitalization across Friday and Sunday.
/images/ppid_59c68470-image-176990503419578861.webp)
/images/ppid_59c68470-image-176991510924099789.webp)
/images/ppid_59c68470-image-176991754329694449.webp)
/images/ppid_59c68470-image-176977520887024906.webp)
/images/ppid_59c68470-image-176979257680692236.webp)
/images/ppid_59c68470-image-176978753300293515.webp)