Indian brokerages drop as markets regulator tightens rules for derivatives

5Paisa Capital

03/10/2024 04:51

Oct 3 (Reuters) - Shares of Indian brokerages fell on
Thursday after the markets regulator tightened rules for trading
in derivatives.
    The Securities and Exchange Board of India (SEBI) on Tuesday
lowered the number of weekly options contracts available to
trade for investors to one per exchange and raised the minimum
trading amount by nearly three times. The changes will be
implemented on Nov. 20.
    Discount brokers 5Paisa Capital  PAIS.NS  and larger peer
Angel One  ANGO.NS  were among the biggest losers, dropping 2.7%
and 3.3%, respectively.
    Indian stock exchanges were closed on Wednesday for a local
holiday.
    The measures will hit discount brokers that have a large
clientele of retail traders the most, as well as exchanges,
Jefferies said in a note.

 (Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank
Dhaniwala)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))