Jul 2, 06:03 AM

Indian Brokerage Stocks Plummet 11% as SEBI Implements Uniform Fee Structure Involving MIIs

Shares of Indian brokerages have fallen sharply following a directive from the Securities and Exchange Board of India (SEBI) requiring stock exchanges to implement a uniform fee structure for transactions. This move is expected to significantly impact the revenue of discount brokers, as highlighted by Deepak Shenoy, CEO of Capital Mind. Shenoy noted that the new fee rules would hurt brokers more than futures and options (F&O) traders. Broking stocks have seen declines of up to 11% as a result of this regulatory change. The directive also involves Market Infrastructure Institutions (MIIs), as reported by AnandJRAnand and BhavyaDKumar.