Indian brokerages slip on market regulator's proposals to curb options frenzy

5Paisa Capital

31/07/2024 05:03

** Shares of Indian brokerages drop 1%-3%
    ** India's markets regulator proposes raising minimum
trading amount for index options by over three times, reducing
the number of contracts expiring each week and a rise in trading
margins
    ** Exchanges and retail-focused brokers will be most
impacted, says Jefferies
    ** Adds, brokers could see biggest impact from reduction in
the number of weekly option contracts
    ** Investec expects 30% drop in number of derivatives orders
per client for ANGO, sees it raising prices to 25 rupees per
order from 20 rupees currently
    ** Angel One  ANGO.NS  loses 2.4%, most among brokerages,
trailed by SMC Global Securities'  SMCG.NS  2.2% decline 
    ** Other brokerages including Dolat Algotech  DOLA.NS ,
5Paisa Capital  PAIS.NS  and IIFL Securities  IIFS.NS  down
1%-2%

    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))