Brokerage stocks sink as market chill sets in; Angel One falls 9%

Brokerages, depositories, and AMCs feel the squeeze

Brokerage stocks posted sharp losses on Monday amid fears that the ongoing selloff may lead to a contraction in business. Adding to the negative sentiment were concerns over the potential impact of new proposals for the derivatives market put forth by the Securities and Exchange Board of India (Sebi) last week.

 

Shares of Angel One fell 9 per cent, extending its year-to-date loss to 32.6 per cent. 5paisa Capital and Share India Securities also fell 5.7 per cent and 4.2 per cent, respectively.

 

Amid a sharp correction in the market, the average daily turnover (ADTV) for the cash segment fell