Brokerage stocks tanks over 18 pc as Budget hikes STT on commodity futures
Brokerage stocks tanks over 18 pc as Budget hikes STT on commodity futures
NEW DELHI: (Feb 1) Shares of brokerage-related companies nosedived 18 per cent on Sunday after Finance Minister Nirmala Sitharaman proposed raising securities transaction tax on commodity futures to 0.05 per cent from 0.02 per cent in the Union Budget 2026-27.
On the BSE, shares of Multi Commodity Exchange (MCX) tumbled 18.08 per cent to Rs 2,068.40, while Billionbrains Garage Ventures, the parent company of Groww, plunged 13 per cent to Rs 154, and IIFL Capital Services declined 10.4 per cent to Rs 296.10 apiece.
Angel One's stock dropped 11.84 per cent to Rs 2,237.95, and Anand Rathi Share And Stock Brokers depreciated 8.05 per cent to Rs 532.15.
