India VIX Trades Near 14 As Expiry Day and Global Cues Lift Volatility

Mumbai, June 24: India VIX remained elevated during the opening session on Wednesday, hovering near the 14-mark after registering a sharp rise in the previous trading session. At 09:52 IST on 24 June 2026, the volatility gauge traded at 13.90, up 0.07 points or 0.50%, reflecting expectations of wider market swings as participants monitored weekly derivatives expiry, overseas market developments and geopolitical uncertainties.

The index opened at 13.94, unchanged from its previous close, and moved within an intraday range of 13.57–14.30 in early trade. India VIX has generated a 46.62% year-to-date return and is trading above its 52-week low of 8.72, although it remains significantly below its 52-week high of 28.90.

India VIX Holds 13.90 After 8.55% Surge

The movement in Wednesday’s opening session comes after India VIX recorded its largest daily gain in nearly two weeks. On 23 June 2026, the index climbed 1.10 points or 8.55% to close at 13.94, compared with 12.84 recorded on 22 June 2026.

During Tuesday’s session, India VIX opened at 12.84, touched an intraday high of 14.24 and slipped to a low of 12.43 before ending the day near the session’s upper range. The sharp increase reversed a decline seen earlier in June and pushed the volatility gauge back towards levels last observed in the middle of the month.

Also Read: Understanding India VIX: What 15 vs 25 Means for Your Portfolio Risk in Plain Language

Recent trading data shows that India VIX had steadily retreated from 16.70 on 25 May 2026 to 12.67 on 18 June 2026. The index then recovered to 12.97 on 19 June, eased slightly to 12.84 on 22 June, and subsequently jumped to 13.94 on 23 June, indicating a change in short-term volatility expectations.

Expiry Session and Sell-Off Raise Volatility

The latest increase in India VIX coincided with weakness in benchmark indices during Tuesday’s trading session. The Nifty 50 declined 1.16% to settle at 23,824.10, while the Bank Nifty lost 1.30%, contributing to increased demand for hedging instruments ahead of the weekly Bank Nifty options expiry scheduled for 24 June 2026.

Market reports released before Wednesday’s opening bell indicated that profit booking following the recent rally in domestic equities influenced trading activity. Participants also tracked movements in crude oil prices, continued foreign institutional investor flows and developments in the Middle East.

The higher reading in India VIX emerged as market participants adjusted positions before expiry settlements, a period that often witnesses elevated activity in derivatives contracts and broader intraday price fluctuations.

Overseas Markets Add to Uncertainty

Global market trends also remained in focus during the opening session. Overnight, major United States indices ended lower, with both the Nasdaq Composite and the S&P 500 slipping to one-week lows amid weakness in semiconductor shares.

European markets registered broad-based declines, adding to the cautious tone in global equities. At the same time, uncertainty surrounding discussions related to a proposed United States-Iran ceasefire arrangement continued to remain under watch.

Reports ahead of Wednesday’s trade highlighted that these overseas developments, together with fluctuations in energy prices and concerns over foreign institutional investor activity, contributed to the recent rise in volatility expectations.

Although India VIX moved higher over the past two sessions, the index remained considerably below levels associated with major episodes of market stress witnessed in previous years.

Levels Near 14 Suggest Wider Swings

India VIX measures the market’s expectation of volatility over the next 30 days and is commonly used as an indicator of anticipated price movements.

Market participants generally interpret readings below 12 as representative of calm conditions, while levels between 12 and 15 are considered indicative of normal volatility. Readings ranging from 15 to 20 are associated with elevated caution, whereas levels above 20 and 30 have historically coincided with periods of significant uncertainty and panic conditions.

At around 13.90–14.00, the volatility gauge remains within the normal range, although it indicates expectations of comparatively broader intraday fluctuations than those seen earlier this month when the index approached 12.50.

Technical indicators assigned a neutral trend rating to India VIX on daily charts. Classical pivot calculations placed the pivot point at 13.54, while resistance levels were identified at 14.64, 15.35 and 16.45. Support levels for the session were calculated at 12.83, 11.73 and 11.02.

June Data Shows Seasonal Weakness

Seasonality analysis indicates that June has historically been a weaker month for India VIX. Data showed that the index delivered negative returns in 11 out of the last 18 years during the month.

June recorded a maximum positive change of 9.45% in 2011, with an average positive return of 5.58%. On the downside, the largest decline was 43.90% in 2024, while the average negative return stood at 15.38%. Overall, the average change for June was reported at -7.23%.

In June 2026, India VIX touched a high of 18.44 on 8 June before declining steadily to 12.67 on 18 June. The subsequent rebound towards the 14-point level has brought the volatility gauge back into focus during the current expiry week.

India VIX traded at 13.90 as of 09:52 IST on 24 June 2026, remaining near the previous session’s closing level following an 8.55% rise on 23 June 2026. The movement coincided with the Bank Nifty weekly expiry, profit booking in domestic equities, fluctuations in crude oil prices, overseas market weakness and ongoing geopolitical developments.

Source

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