NCPIA update adds 6,000+ stocks, 30 crypto pairs in India

Market chatter on Reddit and social feeds has clustered around two separate but related themes: an NCPIA list refresh covering a very large set of Indian equities, and expanded crypto market screens that highlight the most traded pairs in India.

The posts mix exchange-style annexures about eligible securities and haircuts, along with live snapshots of large-cap price moves and crypto pair activity. The common thread is collateral, liquidity, and the practical constraints traders face across products.

What the NCPIA update appears to be

The circulating document language refers to a revised list of eligible securities and haircuts. It explicitly notes that Annexure III and Annexure IV contain details of securities removed and added to existing lists. The same note says the revised list of eligible securities and haircuts is applicable from the beginning of the trading day of October 01, 2025. In social discussions, the update is frequently summarized as covering 6,000+ stocks, but the posts themselves do not show the full count. What is visible is a long, scroll-like table of names and symbols that looks like a collateral eligibility sheet. The content also shows large-cap examples such as Adani Ports and Special Economic Zone Limited, Apollo Hospitals Enterprise Limited, Asian Paints Limited, Axis Bank, Bharat Electronics, Bharti Airtel, Cipla, and Infosys. That mix signals the list includes both widely traded index names and a large number of smaller companies. The focus of the discussion is not on fundamentals, but on what can be treated as eligible collateral and at what haircut.

Why haircuts became a talking point again

The table rows shared in posts include numeric columns that look like haircut percentages and possibly concentration or margin parameters. Even without a full methodology in the snippets, traders interpret higher haircuts as making collateral less efficient. When a stock has a higher haircut, the usable value for margin or risk purposes is reduced relative to the market value. That can influence which securities market participants prefer to hold for collateral management. It also affects how quickly a member can mobilise margin when markets turn volatile. Because the note mentions a revised list and haircuts, the implication is that eligibility and collateral efficiency can change even without any company-specific news. This is why traders on social media were scanning specific scrips and mapping them to haircut numbers. The practical question in these threads is simple: what changed, and which holdings became more or less useful for margin.

A sample from the shared NCPIA-style rows

Some of the most circulated screenshots show dated rows in late June 2026 with company names, symbols, and two numeric fields. The excerpts include entries such as PRIZOR VIZTECH LIMITED (PRIZOR), MTAR TECHNOLOGIES LIMITED (MTARTECH), GRAND CONTINENT HOTELS LIMITED (GCHOTELS), and Shemaroo Entertainment (SHEMAROO). They also show Paras Defence and Space Technologies (PARAS), Valiant Organics (VALIANTORG), Patel Integrated Logistics (PATINTLOG), Powerica (POWERICA), and several smaller companies. Importantly, MTARTECH appears more than once in the sample, with different numeric values in the two fields, which users interpreted as different categories or different margin settings. Without the full annexure definitions in the snippet, users are cautious about concluding what each number means. Still, the presence of consistent percentage-like values is why haircuts are the centerpiece of the discussion. Below is a small sample reproduced from the shared rows.

Large-cap tape moves mentioned alongside the update

Alongside the eligibility discussion, social posts also carried a simple tape snapshot of widely followed Indian stocks, likely to anchor the day’s mood. In that list, Adani Enterprises was shown at 3,040.30, down 0.96%, and Adani Ports at 1,795.00, down 1.01%. Asian Paints was shown down 1.03% at 2,640.00, while Axis Bank was down 0.53% at 1,377.20. Bharti Airtel was shown down 1.46% at 1,849.90, and Bharat Electronics (BEL) down 1.22% at 408.50. On the other side, Dr Reddy’s was shown up 1.59% at 1,349.50, and Bajaj Auto up 1.03% at 9,850.00. The presence of these large-caps in the annexure-style list matters because they are common collateral candidates. Social commentary essentially connects the dots between price movement and collateral usability.

Crypto market screens: “30 pairs” and what users shared

A second leg of the trend is crypto. Posts reference that around 30 crypto pairs are being tracked or added on India-facing screens, and users were comparing the most active pairs. The content includes a prompt to “deep-dive into the top 5 crypto pairs dominating the Indian market: BTC, ETH, SOL, XRP, and BNB.” Separate snippets list many pairs and tickers, including BTC/USD, BTC/USDT, ETH/USD, USDT/INR, USDC/INR, Dogecoin, and others. The emphasis is not on long-term narratives, but on pair-level liquidity and intraday ranges. Several users also highlighted that USDT/INR and USDC/INR were shown with unchanged prices in the shared table. In other words, the discussion is grounded in live-market utility: which pairs are active, and what the ranges look like.

Most active crypto pairs shown in the shared table

The “Most Active CryptoCurrency Pairs” table is detailed enough to show last price, high, low, and percentage change for several assets. Bitcoin was shown around 60,042.6 with a 0.69% move, and a range between 58,345.0 and 60,720.1 in the shared snapshot. ETH/USD was shown around 1,584.64 with a 0.66% move and a low near 1,512.00. Solana was shown around 72.655 with a larger move of 8.34% and a range between 65.928 and 73.264. BNB was shown around 567.90 with a 1.48% move. Dogecoin was also listed with a 0.92% move. The same table included USDT/INR and USDC/INR rows as reference pairs.

Big movers list: gains and sharp drawdowns

Separate from the “most active” table, another shared block highlights notable percentage movers. On the positive side, Aave was shown up 13.86%, Sei up 10.43%, Decred up 10.02%, Rootstock Infrastructure Framework up 8.98%, and Jupiter up 8.03%. That list reads like a quick scan used by momentum traders, rather than a view on adoption or fundamentals. The same feed also listed steep losers such as MemeCore down 72.77%, Humanity down 44.40%, and Audiera down 25.95%. These extreme moves were used in posts as a reminder that liquidity and price discovery can vary widely across tokens. Users contrasted these moves with the relative stability implied by INR stablecoin pairs in the active list. The practical conclusion in the threads is that pair choice matters as much as token choice when volatility spikes.

Regulation and friction: taxes, TDS, and loss set-off limits

A regulation angle is also embedded in the discussion. One shared quote states that the current framework includes transaction-level TDS and limited loss set-off, and that these “are placing additional challenges for meaningful institutional participation.” Separately, posts recirculate the statement that India’s Finance Minister Nirmala Sitharaman unveiled a 30% tax on income from transfer of virtual digital assets. The same text also mentions that the digital rupee was expected to be launched within the 2022-2023 fiscal period, marking a CBDC timeline. In social discourse, these points are cited less as news and more as structural constraints that shape market activity. Traders link these friction points to why liquidity concentrates in the biggest pairs like BTC, ETH, SOL, XRP, and BNB. They also connect it to why participants often prefer simpler spot pairs with clearer on-ramp/off-ramp visibility. The recurring theme is that market structure can influence volumes as much as price does.

What market participants are watching next

The next watchpoint for the NCPIA-style update is clarity on what exactly changed in the revised eligible securities and haircut list, and how it affects day-to-day margin efficiency. Social users are likely to keep comparing symbols they hold against the values in the sheet, especially for mid and small caps. The October 01, 2025 applicability line is being quoted frequently, but users are also sharing June 2026 rows, so the timing and versioning will remain a point of debate until a single source document is referenced end-to-end. On the crypto side, attention is clearly on pair breadth and activity, with BTC and ETH treated as baseline, and SOL and BNB drawing interest when moves are large. INR stablecoin pairs are also being used as a quick check for local pricing context. With tax, TDS, and loss set-off limits repeatedly cited, users expect these frictions to keep steering activity toward the most liquid pairs. For now, the trend is less about a single stock or token, and more about the plumbing of how participants trade and fund positions.