The pledged value of your holdings depends on two things:
- Haircut value: The exchange calculates this on a daily basis, and it can change from day to day. Basically, it's a percentage that's subtracted from the actual value of your holdings to account for potential price fluctuations. This affects the pledged value of that stock.
- LTP or the previous day's closing price: The pledged value is based on the lower of these two prices. If the LTP of the stock goes below its previous day's closing price, the pledged value may decrease.