Rahul Gandhi has called on the Securities and Exchange Board of India (SEBI) to disclose the identities of the “big players” profiting from the substantial losses incurred by retail investors in Futures and Options (F&O) trading. His demand comes in light of alarming findings from a recent SEBI study, which revealed that approximately 90% of small investors have collectively lost ₹1.8 lakh crore over the past three years due to uncontrolled F&O trading.
In a post on social media platform X (formerly Twitter), Gandhi highlighted the staggering growth of F&O trading, which has increased 45 times in five years. He emphasized that small investors, who have been significantly affected by these trading practices, deserve transparency regarding those who benefit at their expense. The SEBI study indicated that over 91% of individual traders—around 73 lakh—suffered financial losses in the F&O segment during FY24, with an average loss of ₹1.2 lakh per trader.
The report further noted that 93% of more than one crore F&O traders experienced losses averaging ₹2 lakh per person over a three-year period from FY22 to FY24. The top 3.5% of loss-making traders, approximately 4 lakh individuals, faced particularly severe losses, averaging ₹28 lakh each, including transaction costs.
Gandhi’s remarks reflect growing concerns about the risks associated with retail participation in F&O trading, which has been driven by user-friendly trading platforms and reduced transaction costs. While these factors have increased market liquidity, they have also led to significant financial pitfalls for many small investors.
SEBI has acknowledged the need for greater investor education and improved risk management practices to protect retail traders from incurring such substantial losses. As the debate continues, Gandhi’s demands for accountability from SEBI and transparency regarding the “big players” in the market are likely to resonate with many investors seeking justice and regulatory action.
