Sharp hike in STT pulls Nifty and Sensex down by 2%; brokerages feel the heat

February 2, 2026

India’s recent hike in Securities Transaction Tax (STT) on futures and options has triggered a significant market downturn, mirroring a similar event in 2004. The move, aimed at curbing speculation, has increased trading costs for all participants, impacting brokers and foreign investors particularly hard.

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