BENGALURU (Reuters) - Shares of Indian brokers fell on Tuesday, a day after India's markets regulators asked market institutions like exchanges to levy uniform charges on brokers that are not based on volumes.

Brokerages like Angel One, 5Paisa Capital, SMC Global Securities and Motilal Oswal fell between 6%-2% in early trade.

Exchange operator BSE was down 1%.

Exchanges often charge a lower fee to brokers if they generate high volumes, contributing to a surge in trading across segments like derivatives, which the regulator wants to curb.

While retail customers are charged the standard slab rate, brokers were benefiting from a lower fee due to high turnover, Tejas Khoday, cofounder and CEO of FYERS, a discount broking firm said.

The exchange transaction charge revenue stream, which constitutes between 15%-30% of large brokers' revenues and more than 50% of discount brokers', is crucial for their sustainability, Khoday said.

(Reporting by Sethuraman NR in Bengaluru; Editing by Mrigank Dhaniwala)