NSE MD Ashishkumar Chauhan is hopeful on the new Samvat, but has a word of caution for investors
The NSE recently went public and is now focusing on new product launches like the electronic gold receipts, which got a strong response on Dhanteras
- Nov 8, 2026,
- Updated Nov 8, 2026 6:10 PM IST
For equity market investors in India, the last two years have largely led to lackluster returns, amid global geopolitical uncertainties and massive selling by foreign portfolio investors (FPI).
As we enter a new Samvat, there is hope that the tide may finally turn and better days may be ahead.
"Last year hasn't been that great for the market. If the next year does well, and we have started seeing that in terms of oil prices coming down, in the last two weeks a huge amount of FII flow has started coming back because we don't see that kind of upside in AI stocks in America or in Korea or in Taiwan, and that is why you will see hopefully better returns coming out of India," Ashishkumar Chauhan, the MD and CEO of National Stock Exchange, said on Sunday.
India missed out on the AI story in the last two-three years, and then the war in Iran also added to the pressures, driving up oil prices and affecting India's balance of payments, pointed Chauhan. All this hurt investor sentiment. But now, India's equity valuations coming down should help.
Read More | Dhanteras 2026: NSE gold receipts hit record trading volume of 2.27 lakh units as demand surges
"India's price-to-earnings, which was running at 22-25 earlier, has now come down to 19, so hopefully that also should be able to attract more people. But, again, all this will remain subject to Indian companies making more profits," he said in an interaction with reporters during the special Muhurat trading on Lakshmi Pujan day on November 8.
India's equity market had surged massively over the last two sessions as the AI rally cooled, and tech stocks in global markets went into a tailspin.
On Muhurat trading day, the mood was one of cautious optimism. The BSE Sensex opened higher compared with the previous close, but eventually closed 29 points or 0.04% lower. The NSE Nifty 50 ended 0.2% lower.
India's equity markets have seen retail participation increase significantly over the past 5-6 years. NSE had around 2.9 crore unique investors around March 2020. That has grown to 13.7 crore unique investors now.
Chauhan has a word of caution for investors, especially the younger investors, that markets are a long-term game.
In Case You Missed It: NSE shares hit fresh high, m-cap crosses $50 billion; what brokerages recommend
"Investment is about the long term. Buying in the morning and selling in the afternoon is trading or speculation. If you want to invest, invest for 3 to 5 years, 10 years, long term. Don't believe in tips," he advised.
He also stressed that nobody should invest all the money or borrow to invest; that is one part, he says many people forget.
NSE went public recently in a Rs 22,569 crore IPO. With the milestone now crossed, the focus in the new Samvat will be on new product launches.
The exchange has recently rolled out trading in Electronic Gold Receipts (EGR). Trading volumes in the segment reached a record 2,27,692 units, supported by festive demand from investors across the country on Dhanteras day.
NSE has also recently got approval from SEBI to launch corporate bond index futures, although RBI approval is awaited.
The exchange has recently announced board approval to sell up to 40% stake in its subsidiary National Coal Exchange of India. NSE has invited some of the top coal users and producers to become part of the ownership structure, Chauhan said.
For equity market investors in India, the last two years have largely led to lackluster returns, amid global geopolitical uncertainties and massive selling by foreign portfolio investors (FPI).
As we enter a new Samvat, there is hope that the tide may finally turn and better days may be ahead.
"Last year hasn't been that great for the market. If the next year does well, and we have started seeing that in terms of oil prices coming down, in the last two weeks a huge amount of FII flow has started coming back because we don't see that kind of upside in AI stocks in America or in Korea or in Taiwan, and that is why you will see hopefully better returns coming out of India," Ashishkumar Chauhan, the MD and CEO of National Stock Exchange, said on Sunday.
India missed out on the AI story in the last two-three years, and then the war in Iran also added to the pressures, driving up oil prices and affecting India's balance of payments, pointed Chauhan. All this hurt investor sentiment. But now, India's equity valuations coming down should help.
Read More | Dhanteras 2026: NSE gold receipts hit record trading volume of 2.27 lakh units as demand surges
"India's price-to-earnings, which was running at 22-25 earlier, has now come down to 19, so hopefully that also should be able to attract more people. But, again, all this will remain subject to Indian companies making more profits," he said in an interaction with reporters during the special Muhurat trading on Lakshmi Pujan day on November 8.
India's equity market had surged massively over the last two sessions as the AI rally cooled, and tech stocks in global markets went into a tailspin.
On Muhurat trading day, the mood was one of cautious optimism. The BSE Sensex opened higher compared with the previous close, but eventually closed 29 points or 0.04% lower. The NSE Nifty 50 ended 0.2% lower.
India's equity markets have seen retail participation increase significantly over the past 5-6 years. NSE had around 2.9 crore unique investors around March 2020. That has grown to 13.7 crore unique investors now.
Chauhan has a word of caution for investors, especially the younger investors, that markets are a long-term game.
In Case You Missed It: NSE shares hit fresh high, m-cap crosses $50 billion; what brokerages recommend
"Investment is about the long term. Buying in the morning and selling in the afternoon is trading or speculation. If you want to invest, invest for 3 to 5 years, 10 years, long term. Don't believe in tips," he advised.
He also stressed that nobody should invest all the money or borrow to invest; that is one part, he says many people forget.
NSE went public recently in a Rs 22,569 crore IPO. With the milestone now crossed, the focus in the new Samvat will be on new product launches.
The exchange has recently rolled out trading in Electronic Gold Receipts (EGR). Trading volumes in the segment reached a record 2,27,692 units, supported by festive demand from investors across the country on Dhanteras day.
NSE has also recently got approval from SEBI to launch corporate bond index futures, although RBI approval is awaited.
The exchange has recently announced board approval to sell up to 40% stake in its subsidiary National Coal Exchange of India. NSE has invited some of the top coal users and producers to become part of the ownership structure, Chauhan said.