Brokerage Stocks Fell Up To 11% As SEBI Asks Exchanges To Charge All Members Uniformly

Shares of Indian brokerage firms fell sharply on Tuesday after market regulator Securities and Exchange Board of India (SEBI) asked market institutions like exchanges to levy uniform charges on brokers that are not based on volumes.Broking stocks including Angel One, IIFL Securities, 5Paisa Capital, SMC Global, Motilal Oswal Financial Services and Geojit Financial Services fell up to 11 per cent. On the other hand, the BSE Sensex was trading at record high levels, up 0.23 per cent at 79,662.64.Shares of exchange operator BSE fell over 2.7 per cent to Rs 2,504. Angel One was the top loser, falling around 11 per cent to Rs 2,339.20. IIFL Securities also plunged about 7.5 per cent to touch an intra-day low of Rs 192.30.Among others, 5Paisa was down 4.5 per cent, SMC Global 2.4 per cent, and Motilal Oswal Financial Services was trading 2.81 per cent down, and Geojit Financial Services fell 2.8 per cent.

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