Nithin Kamath, founder of Zerodha, has reported a substantial decline in trading activity amid a significant correction in the stock market. He noted that both the number of traders and trading volumes have dropped sharply, raising concerns about the impact on the broader broking industry. Kamath warned that if the market downturn persists, India's revenue from Securities Transaction Tax (STT) could fall by 50%, potentially reaching Rs 40,000 crore for the fiscal year 2025-26. This projection reflects the ongoing turmoil in the markets, which have been swinging between extremes, leading to uncertainty about future movements.