National Stock Exchange (NSE) Managing Director and CEO Ashish Kumar Chauhan on 8 November 2026 urged retail investors to abandon the chase for quick profits, warning against acting on unsolicited stock tips, speculative market rumours, and uninformed trading in futures and options (F&O). Speaking in a televised conversation with NDTV Profit, Chauhan stressed that patience and a long-term investment horizon of three to five years — or even a decade — are the cornerstones of sustainable wealth creation in equities.

The case against short-term trading

Chauhan drew a sharp line between investing and speculating. “Investment means being patient and investing for the long run and not buying in the morning and selling in the afternoon,” he said, cautioning retail participants against basing decisions on television panel discussions, market gossip, or speculative news cycles. His remarks come at a time when retail F&O volumes on Indian exchanges have surged to record levels, prompting repeated regulatory scrutiny of retail participation in derivatives.

He also warned investors against borrowing funds for market exposure or taking on financial risk that exceeds their capacity to absorb losses — a practice that has led to severe household-level distress during past market corrections.

F&O: Understand before you enter

On derivatives, Chauhan was unequivocal. Investors should enter the F&O segment only if they possess a clear understanding of how the instruments work and have the knowledge to manage the associated risks. He cautioned that uninformed participation in derivatives could expose investors to substantial losses — a concern echoed by the Securities and Exchange Board of India (SEBI), which has previously noted that a large majority of individual F&O traders book net losses over multi-year horizons.

When to seek professional help

For investors who lack either the time or the expertise to track corporate developments, macroeconomic trends, and market movements, Chauhan recommended mutual funds and professional investment services — including fund managers, financial advisers, and portfolio managers. Drawing an analogy with healthcare, he noted that most people consult a doctor rather than attempting self-treatment without medical training. The same logic, he argued, should apply to financial decision-making.

He acknowledged that market volatility is inevitable and said investors should not allow short-term price swings or speculative impulses to derail a disciplined investment strategy. A long-term approach, he added, could deliver better returns than several alternative asset classes — provided investors remain conscious of the inherent risks.

AI and the new investment cycle

The conversation also touched on the growing influence of artificial intelligence (AI) on global and Indian markets. Chauhan drew parallels between the current AI-driven investment cycle and the dot-com boom of 1998–2000, suggesting that India’s emergence as a destination for technology-led capital flows mirrors the dynamics of the internet revolution of the late 1990s. He did not elaborate on specific risks or opportunities within the AI theme, but the comparison implicitly signalled caution about valuation excesses that accompanied the dot-com era.

Why this matters now

Chauhan’s remarks are particularly timely. Retail investor registrations on Indian exchanges have climbed steeply since the pandemic, and F&O turnover has ballooned even as regulators have flagged the risks to household savings. The NSE chief’s public advisory adds institutional weight to calls for greater financial literacy and disciplined participation. The next phase of India’s capital market growth, analysts note, will depend as much on the quality of retail investor behaviour as on market infrastructure.