SilverBeES, GoldBeES log higher one-day trading volumes than HDFC Bank, ICICI Bank

Nippon India Mutual Fund has hit a major milestone, with Nippon BeES (GoldBeES and SilverBeES) becoming one of the most actively traded securities in India’s capital markets. The fund house says this feat reflects the rapid growth of passive investing and the expanding depth of India’s ETF ecosystem across retail and institutional investors.

As per exchange data, on January 21, 2026, Nippon India SilverBeES recorded trading volumes of Rs 4,784 crore and GoldBeES at Rs 3,299 crore. In comparison, HDFC Bank, one of India’s most liquid large-cap stocks, recorded a traded value of Rs 3,029.72 crore, while ICICI Bank stood at Rs 2,945.08 crore.

The fact that Gold and Silver ETFs traded more value than HDFC Bank on a single trading day signals a defining moment for India’s ETF ecosystem. This marks a structural shift in investor behaviour—highlighting how ETFs are increasingly being used not just as long-term allocation tools but also as high-liquidity instruments for tactical and strategic positioning.


Nippon India Mutual Fund continues to be a dominant force in the ETF space, commanding Rs 2.26 lakh crore in ETF AUM with a 20.6% market share, and a 51.2% volume market share in Q3 FY2026. The fund house enjoys the trust of over 1.63 crore investors, reflecting widespread retail and institutional participation. The achievement reinforces Nippon India ETF’s leadership in scale, liquidity, and investor participation

Nippon India ETFs continue to witness strong participation from both retail and institutional investors, driven by transparent market exposure, cost efficiency, and seamless tradability, the release said.

Trusted by nearly 1.63 crore investors, Nippon India ETFs continue to attract strong retail and institutional interest. By setting new benchmarks in liquidity and participation, Nippon BeES are driving deeper market engagement and strengthening India’s ETF ecosystem.

This milestone reinforces the evolution of India’s capital markets, where ETFs are now competing with—and in some cases surpassing—traditional equities in liquidity, participation, and price discovery, reflecting the rapid mainstreaming of passive investing across investor segments.

These record volumes not only reflect heightened investor demand for precious metals amid global uncertainty but also underscore the growing prominence of ETFs as efficient, transparent, and liquid investment vehicles in India’s financial ecosystem.

During Diwali 2025, Nippon India's ETF offerings captured a commanding 57-58% share of total industry trading volumes in the gold and silver ETF segment, as per NSE data. This dominance highlights its ability to consistently attract liquidity even during peak trading windows.

Also read: Silver ETF prices crash 20%. Who pulled the plug on multibagger rally?

As passive investing gains momentum in India, Nippon India Mutual Fund remains at the forefront—shaping market depth, enhancing accessibility, and enabling investors to participate efficiently in India’s growth story.

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