The fear index for Indian markets approached a six-year high on Wednesday, even as indices rose nearly 1% during the day. After shedding some of the day’s gains, the BSE Sensex ended at 35,697.40, up 62.45 points or 0.18%, while the NSE was at 10,458.40, up 6.95 or 0.07%. Meanwhile, the India Volatility Index (VIX) spiked to 31.55, indicating markets are wary of more turbulence in the days to come.
Markets in other parts of Asia remained under selling pressure, with Japan, China, Hong Kong and Korea down 1-3% on Monday as the Covid-19 epidemic continues to spread.
The NSE VIX is up 170.45% this year and 30% in March alone. Volatility spiked primarily due to the crash in global stock markets and fall in crude oil prices.
