Fri, Jul 5, 2024 7:31 PM
SEBI's new rules on stock market transaction charges
A Flip by Shubhangi Gupta
Nvidia Corp. has surpassed Tesla Inc. in single-stock ETFs, with over $6 billion in assets, representing more than half of all assets in the sector. Nvidia-focused ETFs have taken in $4.4 billion this year, six times more than last year, driven by the artificial-intelligence boom. Tesla-centric funds, on the other hand, have seen a decline, with only $1 billion in inflows this year.
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The Securities and Exchange Board of India (Sebi) has directed exchanges to levy a uniform transaction fee on all broking firms, regardless of the volume they generate, starting October 1. Currently, broking firms pay a lower transaction charge to exchanges based on the cumulative value of trades, but charge clients a higher rate, pocketing the difference.
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The Yamuna Syndicate Limited (TYSL). The stock hit an upper circuit of 10 per cent, with a provisional closing at Rs 62,555 per share on the BSE. Remarkably, in the last three trading sessions, the stock has consistently hit back-to-back circuits. With this move, TYSL has become the second costliest share in the Indian markets, trailing only MRF.
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