India Raises Taxes to Curb Retail Frenzy in Equities Trading

  • Tax on trades made in equity derivative also sees increase
  • Nifty 50 index is on course for ninth straight annual gain
The Bombay Stock Exchange building in Mumbai.Photographer: Indranil Aditya/Bloomberg
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India made significant changes to taxes on gains from equity investments and stock derivatives for the first time in decades, seeking to curb the surge in speculative trading in the nation’s $5 trillion market.