STT tax hike, Feb. 1 -- Following the announcement of a hike in securities transaction tax (STT) on the equity derivatives segment of the Indian stock market, capital market stocks witnessed a sharp slide of up to 14% in intraday deals on Sunday, February 1.

The government proposed to raise the STT by more than 50% on futures to 0.05% from 0.02% and to 0.15% from 0.01% on options.

Following the announcement, capital market stocks started to fall like ninepins, with stock exchange platform BSE emerging as one of the worst-impacted stocks amid a 15% decline.

IIFL Capital Services' share price slumped 17.5%, while the recently-listed Groww shares lost 14% and Angel One 13%.

More to come.

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