Highlights: ► The study involved an Indian adult community sample spanning 20–60 years age range. ► Higher positive affect intensity was associated with higher NMR expectancy. ► Affect intensity, NMR expectancy-significant predictors of stress and well being. ► High negative affect intensity with low NMR expectancy-practice implications. ► Need for further research on positive affect intensity and well being relationship.Abstract: Individuals differ in the intensity with which they typically experience affect as well as in their beliefs regarding their ability to alleviate negative mood states. These variables have been implicated in a range of clinical problems. Most studies utilize a single index of affect intensity. The differential correlates of positive and negative affect intensity, their association with negative mood regulation expectancy and their role as predictors of psychological outcomes have been insufficiently explored. This study aimed at exploring the relationship of affect intensity variables with negative mood regulation (NMR) expectancy, their association with age and gender and examining the role of affect intensity and NMR expectancy as predictors of stress and well being in a community sample of Indian adults. The sample consisted of 206 participants aged between 20 and 60 years. Higher age was associated with higher NMR expectancy but lower positive affect intensity. Positive and negative affect intensity showed differential patterns of association with NMR expectancy. Higher negative affect intensity was associated with lower NMR expectancy whereas higher positive affect intensity was associated with higher NMR expectancy. Affect intensity and NMR expectancy variables jointly predicted 30–39% of variance in perceived stress and well being. Implications for further research are discussed.