BSE, Angel One slide upto 6% as tax worries hit stocks ahead of Budget 2026

Angel One, BSE, Central Depository Services (India), IIFL Capital Services, and Nuvama Wealth Management share prices declined in early trade on Sunday. The markets are conducting a special session today as the government is set to present Union Budget 2026 at 11:00 AM.

BSE share price logged the most losses among peers. The stock declined as much as 5.68 per cent to the day's low of ₹2,638 on the National Stock Exchange (NSE). Angel One share price was the second top loser with a decline of 4.8 per cent intraday.

Nuvama Wealth Management, and IIFL Capital Services share prices have fallen by 3.03 per cent and 2.9 per cent, respectively so far on Sunday.  CATCH STOCK MARKET UPDATES TODAY LIVE

Why did stockbroking stocks decline today?

Stock-broking stocks, such as BSE, Angel One Limited, Nuvama Wealth Management Limited, and Central Depository Services (India) Limited, declined in the special trade session amid nervousness ahead of the Union Budget 2026-27 announcement. Any change in securities transaction tax will likely have implications for the volume and earnings of these companies.

As per PTI report, industry participants have sought exemption from the long-term capital gains taxation (LTCG). They have also flagged caution against any hike in securities transaction fees.

Brokers like Angel One, and Nuvama Wealth Management earn from volume, while Central Depository Services (India) earns a fee for every transaction. A hike in the securities transaction tax may hit trading volumes, as it discourages trading.

Moreover, on Saturday, State Bank of India Chairman CS Shetty suggested to bring parity in the treatment of tax on returns on equity investments and bank deposits. He pointed there is no such disparity anywhere else in the world, and India should catch up, as per PTI reports.

His comments also increased anticipation for any announcement related to tax on returns from equity investments. Thus, the stocks declined due as traders exercised caution before the announcement in the budget.  ALSO READ | Meesho shares hit 5% lower circuit as Q3 net loss widens 12x YoY to ₹491 cr

Other developments

Central Depository Services (India) reported that its consolidated net profit increased to ₹133 crore in the third quarter of the current financial year (Q3FY26) from ₹130 crore (Q3FY25). The total income increased to ₹334 crore from ₹298 crore, the company said in an exchange filing on Saturday.

The clearing house has an 80 per cent market share in terms of demat accounts. The company’s asset under custody (AUC) rose to ₹ 84.8 trillion in the December quarter (Q3FY26) from ₹70.5 trillion at the close of financial year 2025 (FY25), as per the exchange filing.