‘Do not know the place the markets will go from right here, the decline like this continues, even ₹ 40000 crore won’t be of STT assortment’: Nitin Kamat – INA NEWS
Indian inventory markets proceed to fall sharply. Because of the main decline on February 28, buyers misplaced Rs 9 lakh crore. The Sensex fell 1,414.33 factors to 73,198.10 and the Nifty fell 420.35 factors to shut at 22,124.70. The influence of this decline on the broking trade is clearly seen. CEO Nitin Kamat of inventory buying and selling and broking platform Jirodha has highlighted a serious decline in buying and selling actions in a social media submit. He has additionally talked about the gathering of Securities Transaction Tax.
Kamat wrote ‘Correction is lastly coming within the inventory markets. For the reason that markets are swinging between extremes, they will fall much more, simply as they reached peak. I have no idea the place the markets will go from right here, however I can inform you in regards to the broking trade. We’re seeing an enormous decline in each the variety of merchants and the amount. ‘
Indian market nonetheless superficial
Kamat has additionally included two charts in his submit. He wrote, ‘This can be a buying and selling quantity chart. Brokers’ exercise declines by greater than 30%. We began the enterprise 15 years in the past and since then we’re seeing a decline in enterprise for the primary time with the True-to-Market Round. The decline in quantity exhibits how superficial the Indian markets are. ‘
The markets are lastly correcting. Provided that markets swing between extremes, they will fall extra identical to they rose to the height.
I’ve no thought the place the markets go from right here, however I can inform you in regards to the broking trade. We’re seeing an enormous drop when it comes to each the quantity… pic.twitter.com/wHO6hSRdbA – Nithin Kamath (@ nithin0dha) February 28, 2025
Authorities won’t be able to earn even Rs 40000 crore from STT
Kamat additional stated that if this continues, the federal government won’t be able to earn even Rs 40000 crore from STT (Securities Transaction Tax) in FY 25/26. That is not less than 50% lower than an estimate of Rs 80,000 crore.
The market closed at a low of 9 months, understand how it may be on March 3
‘Do not know the place the markets will go from right here, the decline like this continues, even ₹ 40000 crore won’t be of STT assortment’: Nitin Kamat
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