Upstox slips behind Angel One on a Zerodha outage cycle; Groww holds the index at 89.3%.

Building on Tuesday's reading of a tight Groww-Zerodha lead with a 30-point gap to the chase pack, the chase pack itself reshuffled today.

Angel One climbs to rank 3 at 55.3% (+1.3 pts) while Upstox drops to rank 4 at 52.0% (-4.7 pts), the day's largest mover.

Groww is unchanged at 89.3% SoV but its citation pool deepened on AI Mode groww.in 61→66play.google.com 32→41 cites and Zerodha gained ground on ChatGPT via outage coverage on ndtv.com and economictimes.indiatimes.com closing the gap to 1.3 pts.

INDmoney is the other story under the surface: -2.7 pts to 32.0%, with its AI Mode rank falling from 6 to 7.

Two days in, the structural read holds: this is a citation-pool race, not a brand-awareness one.

Groww's stability comes from a fat owned-domain footprint plus a Play Store listing that AI Mode keeps surfacing — 66 + 41 cites between just two URLs.

Upstox's slide is the inverse signal: it has no comparable third-party scaffolding on Gemini (38% SoV there), and a single quiet news cycle is enough to drop it a full rank.

For AEO leads at chase-pack brands, the takeaway is direct: get on the listicles that Gemini and AI Mode pull from equentis.comlemonn.co.ininventiva.co.in before the next outage story hands the narrative to someone else.