Shares of Angel One, 5Paisa Capital, SMC Global, Motilal Oswal and other brokerages fall as Sebi proposes curbs on options
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BENGALURU- Shares of Indian brokerages fell on Wednesday, a day after the markets regulator proposed several measures to curb trading in options. The Securities and Exchange Board of India (SEBI) on Tuesday evening proposed raising the minimum trading amount for index options by over three times, reducing the number of contracts expiring each week and hiking margins. Shares of Angel One, 5Paisa Capital, SMC Global Securities, Motilal Oswal, Geojit Financial, Dolat Algotech and IIFL Securities fell between 1%-5%. "Exchanges and retail focused brokers will be most impacted. Highest impact can come from reduction in the number of weekly option contracts," Jefferies said in a note. "BSE can offset impact and even gain, if volumes spillover from discontinued products to those which are continued." Shares of exchange operator BSE rose 6%. India has been flagging risks from speculative trading by retail investors, who have ...