A recent study conducted by capital markets regulator SEBI revealed that over nine out of 10 individual traders in the equity futures and options (F&O) segment continue to incur significant losses. This study follows up on a report published by SEBI in January 2023, which found that 89 per cent of individual equity F&O traders lost money in FY22. "93% of over 1 crore individual F&O traders incurred average losses of around ₹2 lakh per trader during the three years from FY22 to FY24,” the report said. The aggregate losses of individual traders exceeded ₹1.8 lakh crore over the three-year period between FY22 and FY24, the study also said. “With increased participation of individual investors in equity and equity derivatives markets, the current study was undertaken to analyse profit and loss patterns for individual traders in F&O during the three years FY22 to FY24, and for all the categories of investors in F&O during the single year FY24," it added.