Market Outlook 2025: FII Outflows, Volatility & What Lies Ahead | Ashish Chauhan, NSE CEO

India’s stock market stands at a fascinating crossroads , the Nifty has been range-bound around the 23,500–24,000 levels, foreign investors have turned sellers, yet domestic investors continue to keep the markets resilient. In this conversation, Ashish Chauhan, Managing Director and CEO of the National Stock Exchange (NSE) talks to Riddhima Bhatnagar of Business Today as he decodes the underlying trends shaping India’s equity markets in the new year. From sharp bouts of volatility to record trading volumes of over ₹3 lakh crore a day, Mr. Chauhan shares his perspective on whether this is a phase of healthy consolidation or a signal of caution. He also explains the changing dynamics between FIIs and domestic investors, the evolution of retail and SIP participation, and how India’s markets are becoming structurally stronger and more self-reliant. The discussion also touches sunrise themes investors can look at in the coming year. As investors look ahead to 2025, Mr. Chauhan’s message is clear: stay disciplined and invest for long term and trust India’s long-term growth story.