Capital Market Stocks Rebound After Budget Crash; Jefferies Calls STT Hike Manageable
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Moneycontrol•02-02-2026, 10:31
Capital Market Stocks Rebound After Budget Crash; Jefferies Calls STT Hike Manageable
- •Capital market stocks, including BSE and Angel One, jumped up to 4% on February 2, recovering from a post-Budget crash.
- •The Nifty Capital Markets index rose over 1% to 4,438.95 after a 6% plunge the previous day.
- •Finance Minister Nirmala Sitharaman increased STT on futures from 0.02% to 0.05% and on options from Rs 6.25 to Rs 10 per Rs 10,000 contract.
- •Jefferies views the STT hike as a "sentiment negative" but largely manageable, predicting a 5% volume impact and 4% earnings impact for some firms.
- •Citi also expects a near-term sentiment overhang and marginal decline in F&O volumes, but limited long-term behavioral change.
Why It Matters: Capital market stocks rebounded despite the STT hike, which analysts deem manageable with limited long-term impact.
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