SN Bharadwaj

What the hell is happening to the Indian stock market? Dear @SEBI_India & @NSEIndia @BSEIndia How many times do you expect traders to rebuild their entire business? > December 2020 – 50% leverage removed > March 2021 – 75% leverage removed >September 2021 – 100% leverage removed We adapted. Yes, leverage is a double-edged sword. But thousands of genuine traders with smaller capital were affected. Still, we adapted. > September 2023 – Bank Nifty expiry was shifted from Thursday to Wednesday, while BSE launched Sensex weekly expiry on Friday. Suddenly, we had expiries almost every trading day. Many traders, especially algo and 0-DTE traders, redesigned their entire systems. We adapted. > November 2024 – Weekly expiries of FinNifty, Bank Nifty and other indices were removed. Only Nifty and Sensex weekly expiries remained. Again, thousands of traders had to change their strategies. We adapted. > February 2025 – Expiry-day margin benefit was removed. STBT traders were hit badly. We adapted. > 1st September 2025 – Nifty expiry shifted from Thursday to Tuesday. Again... We adapted. > Jane Street reportedly made billions of dollars from Indian markets over the years. Later, regulatory action was taken, and subsequently trading restrictions were lifted after payment of regulatory dues/settlement. How exactly did all of this benefit Indian retailers? Meanwhile... - Option STT has increased massively over the last few years. - Bid-ask spreads have widened. - Slippage has increased. - Global volatility has increased. - Transaction costs keep rising. We adapted to everything. And now... Closing Auction Session (CAS). Seriously? Every few months there's another structural change. Every few months traders are forced to rebuild their systems. Every few months liquidity takes another hit. You say these changes are for retail investor protection. Then please show us the data. Can you show even one report proving that retail trading losses have actually reduced because of all these interventions? If not, then what exactly are these constant changes achieving? Instead of making markets more efficient, you're making trading more expensive, more complicated, and pushing serious traders towards crypto and international markets. As a full-time trader, my inner soul genuinely cries today seeing the direction our markets are heading. We survived leverage removal. We survived daily expiries. We survived removal of daily expiries. We survived expiry changes. We survived removal of expiry margin benefits. We survived higher STT. We survived wider spreads and slippage. Now we are expected to survive CAS as well? Enough is enough. I request SEBI and the exchanges to reconsider this rule. Before implementing such major structural changes, consult the trading community. There should be proper communication, public discussion, and representation from active traders. I also request every trader to raise their voice through the proper channels. If you genuinely believe these changes are hurting market participants, please send your feedback or complaint to SEBI through its official grievance mechanism. And if anyone from the industry has a direct channel to the exchanges or regulators, please help convey the concerns of the trading community. Please Retweet this so our voice reaches the right people. Enough of silent adaptation. It's time the trading community is heard. @AnilSinghvi_ @_anujsinghal @SarangSood @PRAFULKULKARN18 @adigitalblogger @iarjuntandon @JayneshKasliwal @sunilgurjar01 @piyushchaudhry @SantoshPasi @RakeshPujara1 @TanmayKurtkoti @justnottamomma @AshishGupta325