F&O market mein ab mahaul badal raha hai. SEBI ke naye rules ki wajah se retail traders ki sankhya **20%** gir kar **79 lakh** reh gayi hai. Ek taraf losses kam karne ki koshish hai, toh dusri taraf **3 baar** badhe STT ne trading ka kharcha mehenga kar diya hai.
Market mein chal kya raha hai?
SEBI ne market ki speculative fervor ko thanda karne ke liye contract sizes aur weekly expiry options mein kaafi badlav kiye hain. Iska asar ye hua ki active retail traders 98 lakh se ghatt kar 79 lakh par aa gaye hain. Lekin asal dard data mein dikh raha hai—retail category ne FY26 mein total ₹91,685 Crore ka loss jhela hai.
STT ka double attack
Ek taraf SEBI ke rules hain, toh dusri taraf govt ka STT. Pichle 3 saal mein 3 baar STT badhaya gaya hai. September 2026 tak collections 53% badh gaye, matlab market volume kam hone ke baad bhi sarkar ki kamayi ruk nahi rahi. Traders ke liye dikkat ye hai ki STT seedha contract note mein lag kar aata hai, jo trade se pehle dikhta nahi, isliye cost ka pata late chalta hai.
Algorithmic traders vs Retail
Tax sabke liye barabar hai, lekin asar alag-alag hai. Jaha retail traders nuksan mein hain, wahi algorithmic aur high-frequency trading desks ne same period mein ₹44,483 Crore ka gross profit chap liya. Ye tax structure bade players aur chote traders mein farak nahi karta, jisse retail trader par bojh zyada pad raha hai.
Aage kya hoga?
Regulators ab feedback par focus kar rahe hain, jaise Closing Auction Session par 20,000 public comments aane ke baad unhe apna approach badalna pada. Ab traders ko ye dekhna hoga ki kya aane wale time mein sirf tax badhenge ya kuch aise rules aayenge jo waqayi mein retail ka nuksan kam karenge.