India, June 5 -- The statement sent an immediate shockwave through capital market stocks. Angel One, one of India's largest discount brokers, fell approximately 3.5% in the same session, reflecting broader anxiety across the broker and exchange ecosystem about what the new regulatory framework could mean for trading volumes, capital requirements, and revenue trajectories.

The stock fell as much as 5.2% intraday to Rs. 3,822.90 before recovering some losses to close at Rs. 3,880.00, down 3.8% from its previous close of Rs. 4,033.40. With a market capitalization of Rs. 1.58 lakh crore, BSE is currently trading at a P/E ratio of 68.27, reflecting the premium valuation investors have historically assigned to its derivatives-led growth story...