Indian brokerages slip on market regulator's proposals to curb options trading
Adds BSE's share move; updates moves
** Shares of Indian brokerages drop 1%-5%
** India's markets regulator proposes raising minimum trading amount for index options by more than three times, reducing the number of contracts expiring each week and a rise in trading margins
** Exchanges and retail-focused brokers will be most impacted, says Jefferies
** However, Jefferies says exchange operator BSE BSEL.NS may offset this impact, and may also gain if volumes spill over from discontinued products to those which are continued
** BSE gains 7% after opening 1.5% lower
** Angel One ANGO.NS fell as much as 2.4% in early trade before paring all losses to trade 1.7% higher
** Investec expects 30% drop in derivatives orders per client for ANGO; sees it raising prices to 25 rupees per order from 20 rupees
** SMC Global Securities SMCG.NS drops 4.5%, the most among brokers, followed by Dolat Algotech's DOLA.NS 2.5% and Geojit Financial Services' GEOJ.NS 1.4% decline, respectively
Reporting by Kashish Tandon in Bengaluru
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