FY26 not promising for broking industry, degrowth real worry: Shripal Shah

The decline in volumes for cash and derivatives markets stems from distinct factors. The cash market has slowed mainly due to the broader market correction

Financial year 2025-26 (FY26) doesn't look particularly promising for the broking industry, says Shripal Shah, managing director and chief executive officer (MD & CEO) of Kotak Securities, in an interview with Sundar Sethuraman. Shah further says revenues of broking houses are likely to soften going forward, and de-growth is a real concern.

 

Both cash and derivatives markets have seen significant volume drops from their peaks. Is this due to the market downturn or tighter derivatives regulations?

 

The decline in volumes for cash and derivatives markets stems from distinct factors. The cash market has slowed mainly due to the broader market