Upstox slips behind Angel One on a Zerodha outage cycle; Groww holds the index at 89.3%.
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→66, play.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.
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Edition #1 across all three engines combined
Groww
134 mentions · rank 1 overall
89.3%
Share of voice today
Editor's note
20 May 2026 · 21:00 IST
Cite Solutions Research
Upstox slips behind Angel One on a Zerodha outage cycle; Groww holds the index at 89.3%.
The move
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.
What it means
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.
What moved this — the receipts
4 cited
Groww
Growing citationAI Mode32 → 41 cites (+9) on AI Mode — largest single-domain gain today, anchoring Groww's AI Mode lead at 90% SoV.
pGroww — Stocks & Mutual Funds (Play Store listing)· play.google.com- Growing citationAI Mode
3 → 10 cites (+7) on AI Mode — a LinkedIn pulse piece is now a top-15 source for the category.
lBest Trading App India 2026: Comprehensive Guide· linkedin.com Zerodha
Growing citation
Gemini13 → 18 cites (+5) on Gemini — the strongest Gemini-side gain for Zerodha and the reason Gemini's gap to Groww narrowed to flat (84% vs 84%).
eTop 10 Stock Market Apps in India· equentis.com- Growing citation
ChatGPT10 → 13 cites (+3) on ChatGPT — even a competitor's owned domain is now a Groww-context citation, illustrating the asymmetry in the category.
eETMoney.com· etmoney.com
The figures
11
Brands tracked
645
Total mentions
All 3
Engines in agreement on #1
170
Sources cited
Per-engine verdict
Full lineup
11 brands · 3 engines
MentionsSource pool
Hover for engine split
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