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Ajay Bagga explained that reducing F&O market volumes would increase genuine hedging costs and complexity, thereby reducing volumes and making markets shallower. Small traders might shift to penny stocks, while some may engage in risky dabba trading. SEBI aims to curtail retail activity in F&O trades, but this may temporarily impact market depth and liquidity.

On Wednesday, the rupee gained 2 paise to reach 83.71 against the dollar due to a slight dip in the greenback overseas. Brent crude futures rose by 1.49%. The BSE Sensex initially spiked over 200 points before settling. Foreign institutional investors sold shares totaling Rs 5,598.64 crore on Tuesday.

Gold and silver future contracts saw price increases amid expectations of U.S. rate cuts. Gold futures hit Rs 69,500 per 10 gram, while silver traded at Rs 83,361/kg. Analysts suggest consolidation and potential declines in gold prices, advising traders to remain cautious.

So, on the measures what SEBI has proposed to be implemented, of course, the volumes will get reduced to large extent coupling with the recent hike in the STT by the government in the recent budget. It will have an impact surely on the volumes and ultimately in the revenue of the brokerage firms.

On the technical charts, the RSI of the stock stood at 81.59.

Though definitely it is going to hit the volumes of the exchanges as well as it will going to hit the brokers also in terms of their revenue on the brokerage.

Promoters held 62.55 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 11.85 per cent and 7.91 per cent, respectively.

The stock traded at a P/E multiple of 32.74, while the price-to-book value ratio stood at 4.96.

The Nifty Pharma index was trading 1.05 per cent up at 21766.45.

The regulator, noting that 92.5 lakh retail traders and proprietorship firms suffered trading losses amounting to Rs 51,689 crore in FY24, released a consultation paper proposing measures to strengthen the index derivatives framework. These measures aim to enhance investor protection and promote market stability.