Rahul Gandhi asked sharp questions to SEBI
Opposition and Congress leader Rahul Gandhi has raised tough questions to market regulator SEBI over its data. SEBI has recently released a report stating that in the last 3 years, small investors have lost Rs 1.8 lakh crore due to trading in ‘futures and options’ in the stock market. On this, Rahul Gandhi says that SEBI should tell who are the ‘big players’ who are making money from the losses of small investors.
Rahul Gandhi wrote on social media platform ‘X’ that futures and options trading has increased 45 times in the last 5 years. It has grown unchecked. 90 per cent of small investors have suffered a loss of Rs 1.8 lakh crore in the last 3 years. SEBI should definitely publish the names of the so-called ‘big players’ who have benefited from the death of these small investors.
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This is the latest attack by Rahul Gandhi on SEBI. Even before this, Rahul Gandhi has raised questions about SEBI’s working style with regard to many trends seen in the stock market. On the other hand, Congress, the country’s main opposition party, has been attacking SEBI Chairman Madhabi Puri Buch for a long time.
Uncontrolled F&O trade has increased 45-fold in 5 years.
90% of retail investors have lost ₹1.8 lakh Cr in 3 years.
SEBI must reveal the names of so-called big players who are making money at their expense.
—Rahul Gandhi (@RahulGandhi) September 24, 2024
After Madhabi Puri Buch’s name surfaced in the Hindenburg Research report, the same Congress has been attacking the SEBI chief over issues of negligence in SEBI’s probe against Adani Group, conflict of interest, etc. Recently, when information about the SEBI chief’s declared assets was sought in an RTI, SEBI refused to provide it, calling it “personal information”.
1.8 crore people drowned
SEBI released a report on Monday, which said that 91% i.e. 73 lakh traders suffered losses due to futures and options trading in the last financial year 2023-24. Each trader has suffered an average loss of Rs 1.2 lakh crore. During this period, small traders suffered a total loss of Rs 75,000 crore. The total loss of businessmen trading in this segment in the last 3 financial years has been Rs 1.8 lakh crore.
In contrast, only 7.2 per cent traders have made profits from futures and options (F&O) trading in these three years. At the same time, only 1 per cent traders have managed to earn a profit of more than Rs 1 lakh per person after deducting all market expenses.
