While shares of BSE have opened with gains of nearly 6.5%, those of Angel One are also trading with gains of a similar quantum. Shares of Billionbrains Garage Ventures or Groww, have opened 4.2% higher.
Shares of CDSL and Motilal Oswal are also trading with gains between 6% to 7% this morning.
Apart from the STT hike, the Reserve Bank of India has deferred the implementation of capital market exposure directions, which were also supposed to take effect today, to July 1, 2026.
The RBI has removed restrictions on financing market makers against securities, where they undertake market making.
Banks can now fund Capital Market Intermediaries’ proprietary trading, only against 100% collateral in cash or cash equivalents, as per the RBI circular, a norm that has not been eased from that announced earlier.
Intraday funding to non-debt mutual funds, backed by same-day guaranteed receivables, will not be treated as capital market exposure.
Additionally, the RBI has also expanded the definition of acquisition finance to include mergers and amalgamations. The cap on loans against shares and other eligible securities has been set at ₹1 crore per individual at system level.
The IPO / FPO / ESOP financing cap at ₹25 lakh per individual will be applied at the banking system level.
According to brokerage firm Jefferies, the moves announced by the RBI could result in a smoother transition for brokers / proprietary traders, as bank guarantees can now be renewed for up to a year.
Jefferies believes that the move could be positive for stocks like BSE.
Shares of BSE ended 3.4% lower on Monday at ₹2,684.5. The stock is still up 47% so far over the last 12 months.
