Congress chief and Lok Sabha LoP Rahul Gandhi. File.
| Picture Credit score: ANI
Congress chief Rahul Gandhi on Tuesday (September 24, 2024) mentioned 90% of small traders have misplaced ₹1.8 lakh crore in Futures and Choice (F&O) buying and selling in three years and requested the SEBI to disclose the names of the “so known as large gamers” profiteering at their expense.
Greater than 91%, or 73 lakh, individual traders lost money in the F&O segment in FY24 with a mean internet lack of ₹1.2 lakh per individual, a examine performed by markets regulator Securities and Trade Board of India (SEBI) revealed on Monday (September 23, 2024).
Additional, 93% of over 1 crore particular person F&O merchants incurred common losses of about ₹2 lakh per dealer (inclusive of transaction prices) in the course of the three years from FY22 to FY24. The combination losses of such merchants exceeded ₹1.8 lakh crore in the course of the interval.
Mr. Gandhi, who’s the chief of the Opposition within the Lok Sabha, mentioned on X, “Uncontrolled F&O buying and selling has grown 45X in 5 years. 90% of small traders have misplaced ₹1.8 lakh Cr in 3 years.” “SEBI should reveal the names of the so known as ‘Massive Gamers’ making a killing at their expense,” the previous Congress chief mentioned.
The examine mentioned in FY24 alone, people incurred about ₹75,000 crore in internet losses.
It discovered the highest 3.5% of loss-makers — about 4 lakh merchants — confronted a mean lack of ₹28 lakh per individual over the identical interval, inclusive of transaction prices.
However, solely 7.2% of particular person F&O merchants made a revenue over the interval of three years and just one% of particular person merchants managed to earn income exceeding Rs 1 lakh, after adjusting for transaction prices.
Furthermore, the variety of retail merchants, or particular person merchants, has nearly doubled in two years to about 96 lakh in FY24 from about 51 lakh in FY22.
Though such traders contributed about 30 per cent to the full turnover in FY24, they’re a transparent majority in quantity phrases, as 99.8% of whole merchants within the fairness F&O phase are people.
“The supply of refined buying and selling platforms and decrease transaction prices have enabled retail traders to actively commerce in choices and futures contracts, contributing to the surge in market liquidity,” SEBI mentioned.
The regulator mentioned speedy development in F&O buying and selling exercise has highlighted the necessity for investor training and danger administration practices, as a big proportion of retail merchants continued to incur losses out there.
Revealed – September 24, 2024 06:48 pm IST
