Nithin Kamath Slams STT Hike: 'Death by a Thousand Hikes' for Derivatives Market
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CNBC TV18•02-02-2026, 17:58
Nithin Kamath Slams STT Hike: 'Death by a Thousand Hikes' for Derivatives Market
- •Zerodha CEO Nithin Kamath criticized the Centre's STT hike, stating it won't curb speculation and disproportionately affects futures.
- •Kamath highlighted that 95% of trading volumes are already in options, and the hike will push more activity towards them.
- •He argued that the tax increase impacts futures more, while options are inherently more speculative.
- •The STT hike was proposed by Finance Minister Nirmala Sitharaman in her Budget speech on February 1, causing the Nifty to tank.
- •Kamath suggested establishing product suitability criteria as a better alternative to reduce speculation, rather than repeated STT hikes.
Why It Matters: Nithin Kamath criticizes the STT hike, arguing it will increase options speculation and calls for product suitability criteria.
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