In order to control the "highly risky F&O satta", the government raised securities transaction taxes (STT) on derivatives trading earlier this year as it aimed to curb excessive speculation. Data, however, shows little change in volumes over the two months since the higher taxes took effect.
Ashish Nanda of Kotak Securities took to X to share data showing how volumes changed after the STT hike took effect from April 1, 2026 onwards. “March was an exceptional month, but if you compare April with any other month, volumes don’t look that bad,” he wrote.
