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Business Standard

Retail losses in derivatives is a macroeconomic concern: Ashish Gupta

Sebi's measures are necessary to align the derivatives market with its underlying cash market, as the current disconnect is unsustainable Samie Modak Mumbai Listen to This Article Individual investors lost over Rs 1 trillion in derivatives trading during the financial year 2024-25 (FY25), which equates to 6 per cent of household financial savings. Ashish Gupta, chief investment officer, Axis Mutual Fund, who flagged excesses in India's options markets in his 2023 report- Gamification of Indian Equities, says abundant liquidity and inexperienced investors have turned India's options market into a playground for global trading firms. In an interview with Samie Modak, Gupta warns that the scale of retail losses has macroeconomic implications, making some regulatory restrictions inevitable. Edited excerpts: What is your perspective on the current state of