Shares of Indian brokerages tumbled after the Securities and Exchange Board of India (SEBI) mandated a uniform fee structure for transactions across all market members, impacting firms' income. This directive affects Market Infrastructure Institutions (MIIs) as well. Notably, Zerodha, India's top discount broker, indicated the end of the zero brokerage model due to the new fee rules. Meanwhile, the stock market saw significant movements with Welspun Specialty Solutions climbing 9.01% to Rs 45 per share, Solar Industries India hitting a new high of Rs 11,186.20 with an 11% rally on the BSE, and IOL Chemicals and Pharmaceuticals rising 9.7% to Rs 449 per share. Pennar Industries and Godrej Properties also saw gains, with shares rising 10.15% to Rs 191.50 and 5% to Rs 3,333 respectively. Additionally, shares of CDSL fell 2.8% to Rs 2,368 per share after the company recommended issuing bonus shares to its shareholders in a 1:1 ratio.