HDFC securities
@OfficialHDFCsecurities
What does the STT hike really mean for brokers, exchanges, and everyday investors, and is the market overreacting?
In a recent conversation with CNBC-TV18, Varun Lohchab, Head of Institutional Research at HDFC Securities, unpacked the impact of the higher STT on F&O, the change in buyback taxation, and what investors should do with their gold and silver exposure.
Varun believes the STT hike is a clear sentiment dampener, but not a structural blow to broking or exchange businesses. Looking at past instances, he points out that trading volumes are driven far more by market mood and outlook than small changes in transaction costs, and does not expect a significant hit to volumes for names like BSE or Angel One.
He also calls the move to tax buybacks in line with capital gains a very welcome change that could actually encourage more companies to consider buybacks over the next 12–18 months, especially if valuations cool further and froth continues to come off.
On precious metals, he explains why our house view had turned cautious after an unexpectedly sharp run-up in gold and silver, and why the current correction looks more like speculative unwinding than a reason to overhaul long-term asset allocation.
Curious to know how this could shape your portfolio decisions, from capital market plays like BSE and MCX to your 10–15% allocation to gold and silver?
Watch the full discussion with Varun Lohchab here and tell us what you think in the comments: https://www.youtube.com/watch?v=pcqP1Cx3GzE
#Budget2026 #STT #IndianMarkets #Investing #HDFCSecurities
In a recent conversation with CNBC-TV18, Varun Lohchab, Head of Institutional Research at HDFC Securities, unpacked the impact of the higher STT on F&O, the change in buyback taxation, and what investors should do with their gold and silver exposure.
Varun believes the STT hike is a clear sentiment dampener, but not a structural blow to broking or exchange businesses. Looking at past instances, he points out that trading volumes are driven far more by market mood and outlook than small changes in transaction costs, and does not expect a significant hit to volumes for names like BSE or Angel One.
He also calls the move to tax buybacks in line with capital gains a very welcome change that could actually encourage more companies to consider buybacks over the next 12–18 months, especially if valuations cool further and froth continues to come off.
On precious metals, he explains why our house view had turned cautious after an unexpectedly sharp run-up in gold and silver, and why the current correction looks more like speculative unwinding than a reason to overhaul long-term asset allocation.
Curious to know how this could shape your portfolio decisions, from capital market plays like BSE and MCX to your 10–15% allocation to gold and silver?
Watch the full discussion with Varun Lohchab here and tell us what you think in the comments: https://www.youtube.com/watch?v=pcqP1Cx3GzE
#Budget2026 #STT #IndianMarkets #Investing #HDFCSecurities
YouTube
Believe The STT Hike Won’t Have Any Significant Impact On Brokers: HDFC Securities | CNBC TV18
#BudgetWithCNBCTV18 | Higher #STT On F&O Stumps D-Street
Varun Lohchab of HDFC Securities to CNBC-TV18
- STT rate hike is a dampener in terms of sentiment
- Believe the STT hike won’t have any significant impact on brokers
#stt #arbitragefunds #mutualfunds #indianmarkets#cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday
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