Retail at risk

Retail participation in the stock markets has surged in recent months. With around 3.5 million trading accounts opened in the last four months, retail investors have become a formidable force, accounting for about 75 per cent of the exchange turnover. Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi noted on Wednesday increased retail participation was not a cause for concern, but the way it was increasing was. Mr Tyagi rightly suggested that the entry should be more gradual and investors should take informed decisions. The surge in the number of new dematerialised accounts and trading volumes in the