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INDIA VIX

INDIA VIX

Market volatility expectation index

VIX History

About

India VIX is India's market fear gauge, launched by NSE in 2008. It measures the expected annualised volatility of the Nifty 50 over the next 30 calendar days, computed using bid/ask quotes of Nifty options. Higher values signal greater market uncertainty.

Key Facts

LaunchedMarch 2008
MethodologyCBOE VIX (adapted)
Horizon30-day expected vol
SourceNifty OTM options
Normal Range10 – 25

What is India VIX?

India VIX (Volatility Index) is a real-time measure of market volatility expectation for the near term, launched by the National Stock Exchange (NSE) in 2008. It is computed from out-of-the-money option quotes on the Nifty 50 index, representing the annualised volatility expected over the next 30 calendar days. Higher VIX means greater fear and larger expected swings; lower VIX signals calm. It is often called the “fear gauge” of Indian markets.

Low← Now
< 15
Calm market, high confidence
Moderate
15 – 25
Normal volatility, cautious optimism
High
25 – 35
Elevated fear, sell-off risk
Extreme
> 35
Panic, major market stress

India VIX data available from March 2008. Historical spikes often coincide with major events: 2008 global financial crisis, 2020 COVID crash, 2013 taper tantrum, 2016 demonetisation.