Budget Ka Dhamaka! STT Hike Ne Market Crash Karwaya, Broker Stocks Gire

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AuthorAnanya Iyer|Published at:
Budget Ka Dhamaka! STT Hike Ne Market Crash Karwaya, Broker Stocks Gire
Overview

Yaar, aaj Budget 2026 announcements ne toh market mein hahakaar macha diya! Finance Minister Nirmala Sitharaman ne jo STT rates badhaaye hain F&O pe, aur buyback tax ke naye rules laaye hain na, uske chalte Sensex aur Nifty seedha neeche gir gaye. Sabse zyada impact toh brokerage firms aur exchanges pe dikha.

Budget Ka Attack: STT Hike Aur Buyback Tax Ne Machaya Shor!

Toh hua yeh ki Budget 2026 ke announcements ne Sunday, Feb 1, 2026 ko market mein bhukamp la diya. Finance Minister Nirmala Sitharaman ke naye proposals sunte hi Sensex toh 1,200 points se bhi zyada gir gaya, aur Nifty bhi kaafi neeche chala gaya. Asal mein, government ne F&O trading ko thoda control karne ka mood banaya hai, aur share buybacks ka tax structure bhi badal diya hai. Is sabka seedha asar capital market firms par pada.

STT Pe Increase Ka Kaaran?

Sabse bada reason tha Securities Transaction Tax (STT) ka increase. Ab futures contracts pe STT 0.02% se badh kar 0.05% ho jayega, aur options pe bhi rate badh kar 0.15% ho jayega. Ye move specifically F&O segment mein ho rahi speculative trading ko kam karne ke liye hai. Aapko pata hi hai ki India ka F&O market volume ke hisaab se duniya mein sabse bada hai, aur yahan retail investors ki participation bhi kaafi hai (recent data ke mutabik index options mein 41% tak). Pichhle saal FY25 mein toh 91% retail traders ne loss bhi kiya tha. Is STT hike se trading costs badhenge, jisse overall trading volumes kam ho sakte hain.

Buyback Tax Mein Game Change!

Aur ek bada change aaya buyback tax mein. FY27 se, jo bhi paisa shareholders ko share buybacks se milega, woh ab capital gains ki tarah tax hoga. Pehle yeh dividend ki tarah tax hota tha, alag bracket mein. Isse promoters ko 22% se 30% tak ka additional tax dena padega. Yeh change companies ke treasury strategies aur investors ke net returns ko affect karega.

Brokerage Aur Exchanges Ka Bura Haal!

Is tax turbulence ka seedha impact capital market infrastructure wali companies par dekha gaya. Multi Commodity Exchange (MCX) ke shares toh 17% tak gir gaye! Angel One, jo ek popular broker hai, 12.22% neeche aa gaya. Nuvama Wealth Management 9% se zyada gira, aur Indian Energy Exchange (IEX) bhi 3.3% down raha. Yahan tak ki BSE (Bombay Stock Exchange) bhi 11% se zyada gir kar ₹2,485.50 pe aa gaya. Ye dips investors ke sentiment ko dikhate hain ki kaise higher transaction costs aur potential volume changes in intermediaries ki profitability par asar karte hain.

Valuation Aur Future Outlook

Agar valuations ki baat karein toh BSE ka TTM P/E ratio lagbhag 63.08x, MCX ka 68.69x, Angel One ka 29.99x, aur IEX ka 23.53x hai. Market ka yeh reaction dikha raha hai ki STT badhne se trading volumes pe kya asar padega, iska potential impact companies ke future earnings par dekha ja raha hai. Historical data bhi batata hai ki Budget wale din aise tax changes se markets mein aksar sharp, albeit sometimes temporary, reaction aata hai. Ab dekhna yeh hai ki yeh volume moderation kitna hota hai aur market ki overall liquidity kaise re-adjust karti hai.

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