While the BSE stock opened with gains of nearly 6.5%, Angel One’s stock is also trading with gains of a similar magnitude. Shares of Billionbrains Garage Ventures or Groww have opened 4.2% higher.
Shares of CDSL and Motilal Oswal are also trading with gains of 6-7% this morning.
In addition to the increase in STT, the Reserve Bank of India has deferred the implementation of the capital market exposure directions, which were also due to come into effect today, until July 1, 2026.
The RBI has removed restrictions on funding market makers against securities, when they carry out market making.
Banks can now fund transactions on their own behalf of capital market intermediaries, only against 100% collateral in cash or cash equivalents, according to the RBI circular, a rule that has not been relaxed from the one announced earlier.
Intraday funding of non-debt mutual funds, backed by same day secured receivables, will not be treated as capital market exposure.
Additionally, the RBI has also expanded the definition of acquisition financing to include mergers and amalgamations. The limit on loans against shares and other eligible securities has been fixed at Rs 1 crore per individual at the scheme level.
The IPO/FPO/ESOP funding limit of ₹25 lakh per individual will be applicable at the banking system level.
According to brokerage firm Jefferies, the measures announced by the RBI could result in a smoother transition for proprietary brokers/dealers as bank guarantees can now be renewed for up to one year.
Jefferies believes the move could be positive for stocks like the BSE.
BSE shares ended 3.4% lower on Monday at Rs 2,684.5. The stock is still up 47% so far in the last 12 months.
