Share market today: India VIX soars over 40% as market frets over the prospects of slim margin of BJP-led NDA
Also Read: Election Results 2024 Sensex Crash Live Updates: Bloodbath on Dalal St. as Sensex falls 4,600pts, Nifty down 6.2%BSE-listed companies erased market-cap of nearly ₹40 lakh crore. The Sensex fell below 72,000 and the Nifty 50 fell below the 21,200 mark, falling by around 7% each.
As a result of which, the fear gauge index, the India VIX today is trading in the range of 29-30, up over 39-44%.“Uncertainty over the actual outcome of election results compared to exit polls is leading to panic amongst market participants. This has led to a rise in India VIX as demand for out-of-money options seems to be on the rise to hedge long positions and portfolios. 30-35 is the crucial range," said Ruchit Jain, Lead Research Analyst at 5paisa.Also Read: Stock market today: Investors lose ₹38 lakh crore as election race gets tighter than what exit polls predictedExcept for the COVID-19 corRECtion, India VIX has topped the 30-35 range in May 2019 and February 2022.
On 13 March 2020, India VIX went up from 41.16 to 59.48, which is 44%. Market experts highlighted that the market will continue for some time as volatility is very high due to the negative surprise in the election results.All sectoral indices were trading in red, marking the worst decline in the market in four years. PSU stocks have suffered greatly, with sectoral indexes falling by almost 15%.
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