India VIX Falls 5.48% as Crude Oil Eases and Asian Markets Recover

Mumbai, 9 November 2026: India VIX fell 1.01 points, or 5.48%, to 17.42 on Monday as lower crude oil prices, easing US-Iran tensions and a recovery in several Asian equity markets shaped the global backdrop. The index opened at 18.43, matching its previous close, touched an intraday high of 18.44 and fell to a low of 16.77. Domestic equities faced profit-booking after a seven-session rally.

India VIX Closes at 17.42 After Trading between 16.77 And 18.44

India VIX settled at 17.42, down 1.01 points or 5.48%. Its day range was 16.77–18.44, while its 52-week range was 8.72–28.90. Year-to-date return was 83.76%. Its daily technical rating was Neutral, with a classic pivot point of 17.60.

India VIX reflects expected near-term volatility based on Nifty options prices. It declined as the Nifty and Sensex gave up early gains. In November, the index had recorded negative returns in 10 of 18 years; its average monthly change was 1.15%.

Seven-Session Rally Gives Way to Profit-Booking in Indian Shares

The Nifty 50 had gained around 10.5% over seven consecutive sessions before Monday, while the Sensex also rose. The market opened higher: the Sensex rose approximately 186 points and the Nifty added around 30 points, while Gift Nifty had indicated a positive start. Investors then booked profits.

During early trading, the Nifty slipped to 24,931.20 and the Sensex to 80,837.24. Ten of the 16 major sectors were lower at that stage. Foreign buying, improving sentiment and lower crude prices had supported the earlier advance. Monday’s profit-booking marked a change from the previous sessions, although the benchmark declines occurred alongside a fall in India VIX.

IT Stocks Fall 1.3% While Pharmaceuticals Gain 1.6%

Sectoral performance was uneven. Information Technology shares declined around 1.3%, while pharmaceuticals advanced 1.6% and financials gained 0.5%. Small-cap and mid-cap indices slipped 0.1% and 0.3%, respectively. Divi’s Laboratories rose approximately 4.6% after reporting a 64% year-on-year increase in quarterly profit. Infosys, HCL Technologies and Tata Consultancy Services were among the IT stocks under pressure.

The divergence left technology shares weak while pharmaceuticals and financials advanced.

November FII Purchases Exceed $4.1 Billion

Foreign institutional investors (FIIs) had purchased more than $4.1 billion of Indian equities during November, their largest monthly purchases since September 2024. These were cumulative November purchases, not 9 November buying.

Currency conditions also formed part of the domestic context. The rupee had appreciated around 0.6% on Friday, 6 November, to 93.9050 against the US dollar, taking its weekly gain to approximately 1.1%. The move was attributed to foreign inflows and lower crude prices.

October CPI Forecast of 5.93% Keeps Inflation in Focus

India’s October Consumer Price Index (CPI) release was scheduled for 12 November. A poll cited on Monday projected inflation at 5.93%, compared with 5.54% in September. Food prices were identified as a key contributor to the expected increase. The forecast was close to the Reserve Bank of India’s 6% upper tolerance threshold.

The data remained an upcoming event, not a release from Monday’s session.

Asian Markets Recover as Taiwan Rises 4.9%

Asian markets recovered on Monday after the previous week’s technology-led sell-off. Taiwan’s Taiex advanced 4.9% and Japan’s Nikkei 225 gained 2.3%, while South Korea’s Kospi fell 0.8% and Hong Kong shares edged lower. European markets were broadly higher and US equity futures also rose. The MSCI Asia-Pacific ex-Japan index recovered after falling sharply in the previous week.

The rebound followed the previous week’s concerns about AI valuations, semiconductor demand and data-centre spending. Gains in TSMC supported Taiwan’s market. The rebound was uneven: Nvidia fell around 4.1% in pre-market trading amid reports of an investigation into whether its chief executive had been targeted by foreign intelligence. China rejected the allegations as a smear.

Brent Slips to $97–$98 as US-Iran Tensions Ease

Brent crude traded around $97–$98 per barrel, below $100, while US West Texas Intermediate crude also declined. Prices moved lower after US President Donald Trump said further US attacks on Iran were unlikely if negotiations to end the conflict made sufficient progress.

The comments eased immediate concerns about military escalation and potential disruption to oil shipments, including through the Strait of Hormuz. However, the situation remained unresolved, with reports of attacks on vessels in or near the Strait and warnings of retaliation. Lower crude prices were relevant to India because oil affects the import bill, inflation, the current-account balance, the rupee and costs for petroleum-dependent industries.

US Jobs Data Raises December Rate-Hike Expectations

US employment data released before Monday’s session showed that the economy added approximately 165,000 jobs. The stronger-than-expected figure lifted market expectations of a possible Federal Reserve rate increase in December; the implied probability was reported at around 80%. The data signalled economic resilience but also raised the prospect of tighter policy, higher Treasury yields and a stronger dollar. No rate decision was announced on 9 November.

After the jobs data, the dollar weakened against the yen during Asian trading, while the euro strengthened. The US October CPI release was scheduled for 10 November and was expected to influence rate expectations, Treasury yields, currencies and global equity valuations. It remained an upcoming release rather than an event that occurred during Monday’s session.

India VIX closed at 17.42, down 5.48%, after trading between 16.77 and 18.44. Monday’s session combined domestic profit-booking and sectoral divergence with lower crude prices and a recovery in several overseas markets. The Indian October CPI and US October CPI releases remained upcoming events, not data published during the session.