India VIX Declines 1.74% to 12.96 in Opening Session as Eas‌‌in‌g Global Risks Ke‌ep Volatility Near Three-Month Lows

Mumbai, June 18: The Indian VI‌X saw a decline of 0.23 points or 1.74 per cent at 12.96 in Thursday’s opening session as of 09:47IST. The volatility measure traded in the range of 11.99-13.22 during the early trading session and stayed near its lowest levels in almost three months due to eased geopolitical tensions, lower crude prices, and improved risk sentiment. 

India VIX Trades Between 11.99 And 13.22 In Early Dealings 

The‌‌ India VIX opened at 13.18, marginally‌‌ below the previous close of 13.19, and reached a‌‌ high of 13.22 but later fell to a‌‌‌ low‌‌ of‌‌ 11.99. The index is still trading considerably‌ below its‌‌ 52-week‌‌‌ high of 28.90, but above its 52-week‌‌ low of 8.72. 

The volatility index has delivered a year-to-date return of 36.92%, reflecting sharp fluctuations seen during the first half of 2026. The technical indicators currently suggest a neutral trend rating, while the support and resistance levels indicate initial resistance at 13.70, followed by 14.20 and 14.88. On the downside, support levels are placed at 12.52, 11.84, and 11.34. 

India VI‌X Declines for Five Consecutive Trading Sessions Since 11 Jun‌‌e 

India VI‌X has remain‌‌ed under pressure over the past few trading sessions, extending a downward that began in mid-June. 

The index closed at 15.61 on June 11, 2026 before falling 5.72% to 14.72 on June 12. It declined another 2.50% on June 15 to settle at 14.35, followed by a steeper 6.92% drop on 16 June, taking the closing level to 13.36. On June 12, India VIX eased further by 1.29%, ending the session at 13.19. 

The recent decline has brought the volatility gauge close to levels last seen in March 2026, reversing much of the increase recorded earlier this month. 

Easing Global Tensions and Crude Below $79 Reduce Volatility 

The moderation in India VIX coincided with improving global market conditions and a decline in crude oil prices. 

Market reports indicated that easing geopolitical concerns, softer energy prices and better global risk sentiment reduced the demand for downside protection in the derivatives segment. Brent crude prices reportedly moved below $79 per barrel, helping ease concerns linked to inflationary pressures and external balances. 

Developments in West Asia also contributed to the calmer market environment. Reports suggesting progress towards easing regional tensions and reopening important shipping routes supported sentiment across global financial markets. 

As a result, India VIX has remained below the 15-mark, a level generally associated with relatively contained expectations for market fluctuations over the coming weeks. 

Early June Spike to Nearly 17 Gives Way to Sharper Pullback 

The latest weakness in India VIX follows a sharp rise witnessed during the first week of June. 

The volatility gauge had surged to almost 17 levels on 8 and 9 June 2026, while an intraday high of 16.98 was recorded on June 3, 2026. At the time, market participants cited heightened geopolitical uncertainty, weakness in the rupee, concerns surrounding renewed tariff measures in the United States and increased hedging activity by institutional investors. 

As these concerns gradually eased, volatility retreated steadily towards the 13-level, with India VIX now trading near its lowest readings in about three months. 

June Seasonality Shows Average Decline of 7.48% In 18 Years 

Historical data suggests that June has often been a weaker month for India VIX. 

Seasonality analysis indicates that the volatility index has delivered negative returns in 11 out of the last 18 years during June. The largest positive movement recorded for the month was 9.45% in 2011, while the steepest decline stood at 43.90% in 2024. 

The average positive change for June is 5.58%, whereas the average negative movement is 15.79%. Overall, the month has historically generated an average change of -7.48%, highlighting a tendency for volatility to soften during this period. 

Nifty Gains for Fourth Session as India VIX Remains Subdued 

The decline in India VIX coincided with strength in the broader market during the previous trading session. 

The Nifty 50 advanced for a fourth consecutive session, rising 96.55 points or 0.40% to close at 24,085.70. Foreign Institutional Investors recorded net purchases worth ₹101 crore, while Domestic Institutional Investors bought equities worth ₹1,561 crore on a net basis. 

Meanwhile, the Indian rupee remained largely unchanged against the US dollar after earlier touching a six-week high, supported by lower crude oil prices. 

India VIX currently remains close to its previous close of 13.19, having opened at 13.18 and traded lower during the opening session on June 18, 2026. 

India VIX continued its downward trajectory during the opening session on June 18, 2026, extending losses recorded over the previous four sessions. The index remained near three-month lows as softer crude prices, easing geopolitical developments and improving global market conditions coincided with lower implied volatility levels in the domestic derivatives market. 

Source 

• https://www.nseindia.com/reports-indices-historical-vix