The results of the Securities and Exchange Board of India’s (Sebi’s) interventions in the futures and options (F&O) market are beginning to show. The total number of unique traders in the F&O segment has declined by 20 per cent to 6.7 million, according to a study released by Sebi. This count is for the period between December 2024 and May 2025, compared to the same period a year ago.
Meanwhile, individual investors’ turnover in equity derivatives has dropped by 11 per cent to ₹56,000 crore, compared to ₹62,700 crore during the same period a year earlier.
Traders with a total

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