STT hike will Impact Sentiment of Traders": Sachin Gupta of Share India Securities

Mumbai (Maharashtra) [India], March 27 (ANI/PNN): Share India Securities Ltd. is a listed, tech-based financial conglomerate which specializes in latency-based trading platform. Talking about the recent hike in STT by the Government, Sachin Gupta, CEO, Share India Securities added, "The Indian trading mechanism has now shifted from traditional to the technology-based trading platform. Earlier where traders and investors were using traditional trading systems, now they are using algo based trading system where orders are executed in less than a second. Fast trading systems are now becoming a need for traders and investors. The introduction of higher STT will impact the sentiments of traders and investors who want to make a full-time career in the stock market. In recent, we observed that many professionals like CAs, Lawyers, Doctors, engineers are making it a full-time career option.

Young generation adopted it as a fulltime profession. Data shows that due to the participation of new-age investor the volumes also increased unexpectedly which boost the market as well as the economy. Increase in STT will increase the cost to the option traders and reduce the profits which affects the sentiments of Tech-savvy youth. It can also lead them to move away from the profession. This may lower the volume like we saw at the time when government increased the CTT, resulting in commodity trading volumes decreasing drastically."

Share India Securities Limited is one of India's leading tech-based financial service provider. The company Leverages on the artificial intelligence and algorithmic trading and offers customized capital market solutions to its clients. SISL has ~3 per cent market share in cash market, ~3 per cent market share in futures and ~8 per cent market share in options on basis of turnover. SISL via its subsidiaries is also present in NBFC business, insurance broking, merchant banking, portfolio management and mutual funds distribution. SISL is powered with 1,500 employees, has been in operations since last 27 years & has a nationwide reach with its 729+ AP/branches present across 18 major States of India. This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)

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