



Sebi’s crackdown on options frenzy is bearing fruit, NSE data shows
Subscribe to enjoy similar stories.The Securities and Exchange Board of India's (Sebi’s) measures to cool the retail frenzy in options trading appear to have begun yielding results, with small-trader participation declining almost 20% in FY26 from the previous year.Equity options, which comprise index and stock options, are the most widely traded derivative products within the futures and options (F&O) segment. The fall in participation is thus a clear outcome of Sebi’s measures, experts said.According to NSE data, the number of investors trading less than ₹10,000 each on the National Stock Exchange (NSE) fell by two-fifths to 450,000 in FY26, from 780,000 in FY25, according to data from the stock exchange.
The number of investors trading ₹10,000 to ₹1 lakh fell 25%, while those trading ₹1 lakh to 10 lakh dropped 13% .Together, these declines drove the total count down by 780,000 or 19% year-on-year to 3.37 million in FY26. Meanwhile, the aggregate count of investors trading ₹10 lakh to upwards of ₹10 crore remained steady at 950,000.Interestingly, although the aggregate count of investors trading up to ₹10 lakh accounted for nearly 72% of all equity option traders on the NSE inFY26, they contributed a mere 2.1% ( ₹24,944 crore) to the total turnover of ₹11.87 trillion, according to data from the exchange."It's clear from the data that Sebi’s objective of tempering options frenzy among small investors is making an impact, given the decline in their participation numbers," said Amit Chandra , senior vice president (research) at HDFC Securities.
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