Angel One, BSE, and Other Capital Market Stocks Decline Up to 4% Amid Weak Market Sentiment Following NSE CEO's F&O Remarks

Market Review (Friday, February 28, 2024)

Key Takeaways

• The Indian capital market experienced a decline in sentiment, leading to a fall of up to 4% in shares of capital market-linked firms.
• Angel One led the decline, falling 4% to an intraday low of Rs 235.6 per share on the NSE.
• Computer Age Management Services dropped 3.47%.

Market Indices

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• The Nifty Capital Markets index declined up to 1.5%, with 13 out of 15 constituents trading in the red.
• The Sensex fell 618.81 points or 0.75% to 81,629.80.
• The Nifty declined 223.55 points or 0.88% to 25,273.

Macro-Economic Factors

• The decline in market sentiment was weighed down by remarks from NSE Managing Director and CEO Ashishkumar Chauhan regarding derivatives volumes.
• The proposed hike in Securities Transaction Tax (STT) on futures and options, announced in the Budget for 2026, is expected to impact market volumes.

Global Market Trends

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• Benchmark equity indices were trading lower, tracking weak global cues and fresh foreign fund outflows.