New Delhi, April 17 -- India's investing story has moved well past the opening chapter. It's no longer about whether people will invest, they are. By early 2026, the country had crossed 185+ million demat accounts (NSE/NSDL data) and mutual fund folios have breached 234+ million, with monthly SIP inflows consistently above Rs.24,000 crore through 2025-26 (AMFI). The question now isn't access. It's what happens next.

A large share of those new entrants are first-timers. Many came in during a bull run and haven't yet seen a serious correction. That matters, because the biggest threat to their wealth won't be a bad fund, it'll be their own reaction when markets turn.

DALBAR's annual Quantitative Analysis of Investor Behavior has, for decad...