Stock broking firms tumble; Angel One tanks over 10 pc
NEW DELHI, July 2 (PTI): Shares of stock broking firms declined on Tuesday, a day after markets regulator Sebi directed stock exchanges and other market infrastructure institutions (MIIs) to implement a uniform and equal charge structure for all members rather than varying charges based on their volume or activity.
The stock of Angel One tumbled 10.50 per cent, Geojit Financial Services tanked 5.86 per cent, Dolat Algotech dropped 5.39 per cent, 5paisa Capital declined 4.51 per cent, Motilal Oswal Financial Services went lower by 3.70 per cent and SMC Global Securities dipped 2.41 per cent on the BSE.
The regulator instructed stock exchanges, clearing corporations, and depositories constituted as MIIs to ensure that any charges recovered from the end client are ‘True to Label’.
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