Nirmala Sitharaman wants to control F&O ‘satta’ with STT hike but there could be unintended consequences

Finance Minister Nirmala Sitharamans steep STT hike on futures and options has triggered sharp market backlash, with brokerages and exchanges tumbling up to 9%. Experts warn the move could drain liquidity, deter foreign investors and hurt Indias market competitiveness, even as the government defends it as a curb on excessive speculation.