A study conducted by markets regulator SEBI has revealed that the top four states with highest average per person loss from F&O (futures & options) trading were all from South India in financial year 2023-2024. Traders in Telangana suffered ₹1.97 lakh loss per person on average, followed by Andhra Pradesh (₹1.45 lakh), Tamil Nadu (₹1.37 lakh) and Karnataka (₹1.35 lakh).