India VIX Rises 1.21% as US Inflation Concerns Offset Crude Oil Relief

Mumbai, 11 November 2026: India VIX, the benchmark volatility index of the National Stock Exchange (NSE), rose 0.21 points, or 1.21%, to 17.71 at 9:53 AM IST on November 11, 2026, compared with its previous close of 17.42. The index opened at 17.42, touched an intraday high of 17.78 and recorded a low of 15.64, according to the available market data. The movement came as Indian equities opened sharply higher following the Diwali holiday, while developments in global inflation, crude oil prices, foreign investment flows and geopolitical conditions shaped the opening-session volatility.

India VIX Opens at 17.42 Before Rising 1.21%

India VIX began Wednesday’s trading session at 17.42, matching its previous closing level. The index subsequently climbed to 17.71, registering an increase of 0.21 points, or 1.21%, by 9:53 AM IST. Its reported intraday range stood between 15.64 and 17.78, while the 52-week range extended from 8.72 to 28.90.

The index had recorded a decline of 5.48% during the previous trading session on November 9, closing at 17.42, against its previous close of 18.43. It opened that session at 18.43, reached a high of 18.44 and touched a low of 16.77. The Indian equity market remained closed on November 10 for Diwali Balipratipada, making November 11 the first regular trading session following the holiday.

India VIX’s year-to-date return stood at 86.81% as of November 11. The latest movement reflected a change in the index’s opening-session level despite the positive start recorded by domestic benchmark indices.

Nifty Jumps 1.17% as All 16 Major Sectors Advance

Indian equity benchmarks opened significantly higher on November 11, with the Nifty 50 gaining 1.17% to 25,337.80 and the Sensex advancing 1.41% to 82,248.68 at 9:15 AM IST. The broader market also recorded gains, with mid-cap and small-cap indices rising 0.7% each. All 16 major sectors advanced during the opening session.

The positive opening followed the market holiday and came amid developments involving softer international crude oil prices and foreign institutional investor (FII) purchases in Indian equities. The pre-opening indications were also positive, with GIFT Nifty trading at different reported levels of approximately 25,319, 25,323 and 25,334, depending on the observation time.

The benchmark indices’ advance coincided with India VIX moving above its previous closing level by 9:53 AM. This marked a divergence between the direction of the headline equity indices and the volatility index during the early session.

Crude Oil Falls to $89.16 as Iran Tensions Ease

International crude oil prices recorded a significant decline ahead of the Indian market opening. Brent crude fell to approximately $89.16 per barrel on November 10, marking its lowest level in around two months. Prices subsequently recovered towards $92 per barrel during Wednesday morning trading. West Texas Intermediate (WTI) crude was trading at approximately $86.50 per barrel.

The decline followed developments surrounding the Iran conflict. US officials played down the possibility of additional military action against Iran, while US President Donald Trump indicated that the conflict could end soon. Reports also indicated a positive response from Tehran.

These developments reduced immediate concerns surrounding potential disruptions to global oil supplies. The movement in crude prices was particularly relevant for India, given its dependence on imported oil. Changes in international petroleum prices also influence the country’s import expenditure and imported inflation considerations.

However, the subsequent recovery in Brent crude towards $92 per barrel indicated that prices had moved higher from the two-month low recorded a day earlier.

US CPI Rises 0.4% as Treasury Yields Increase

US inflation data emerged as another significant global development ahead of Wednesday’s Indian trading session. The Consumer Price Index (CPI) increased 0.4% month-on-month in October, compared with a 0.6% increase in September. Core inflation also rose 0.3%, against market expectations of 0.2%.

The inflation figures brought renewed attention to the Federal Reserve’s interest-rate outlook, with market expectations of a December rate hike increasing following the release. US Treasury yields also moved higher, with the two-year Treasury yield rising by approximately 18 basis points.

The developments were accompanied by strength in the US dollar and a sharp decline in gold prices. Asian government bond yields also experienced upward pressure.

The combination of higher inflation and rising Treasury yields added to uncertainty surrounding global interest rates, currency movements and emerging-market financial conditions ahead of the Indian market opening.

Nasdaq Falls 0.74% as US Technology Stocks Decline

US equity markets ended Tuesday, November 10, in negative territory. The Dow Jones Industrial Average declined 0.30%, while the S&P 500 fell 0.38%. The Nasdaq Composite recorded a relatively sharper decline of 0.74%, reflecting weakness in technology stocks, including Nvidia.

The decline in technology shares formed part of the broader global market developments being monitored ahead of Wednesday’s Indian session. The movement also coincided with the increase in US Treasury yields following the October inflation data.

Asian markets presented a mixed picture during early trading on November 11. Japan’s Nikkei 225, South Korea’s Kospi and Taiwan’s Taiex traded higher, while Hong Kong’s Hang Seng recorded mixed-to-negative movements. The Shanghai Composite was slightly lower in one market snapshot, while Australia’s ASX 200 also remained mixed.

FPI Purchases Reach $5.68 Billion During November

Foreign portfolio investor (FPI) activity remained an important domestic market development ahead of the November 11 session. Foreign investors purchased approximately $5.68 billion worth of Indian equities during November, marking their strongest monthly buying activity since September 2024 over the reported period.

Separately, foreign investors invested approximately ₹53,739 crore during the first nine days of November. These figures represented cumulative purchases reported before Wednesday’s session and did not constitute fresh flow data for November 11.

The reported purchases coincided with the strong opening in domestic benchmark indices following the Diwali holiday. The figures also provided an update on foreign investment activity in Indian equities during the month.

Corporate Results and Blackstone Deal Add Domestic Triggers

Company-specific developments also featured in the domestic market news flow. Kalyan Jewellers reported a 64% year-on-year increase in second-quarter FY27 net profit to ₹427 crore, while revenue rose 31.4% to ₹10,323 crore. The company’s results formed part of the corporate earnings developments available ahead of the November 11 session.

In contrast, MRF reported a 23% year-on-year decline in second-quarter net profit to ₹417 crore, with higher raw-material costs identified as a concern despite revenue growth. Cochin Shipyard also reported a 50% year-on-year decline in second-quarter net profit to ₹53.7 crore.

Separately, Blackstone announced an investment of approximately ₹5,000 crore in IIFL Finance for around 16% diluted ownership, as part of a larger capital-raising exercise. These announcements added to the domestic corporate developments accompanying the market reopening.

India VIX November History Shows 10 Negative Years

Historical seasonality data showed that India VIX recorded negative returns in 10 out of 18 years during November. The month registered an average change of 1.27% across the available historical period.

November’s maximum positive change was 21.46% in 2021, while the average positive change stood at 12.63%. The maximum negative change was 19.92% in 2020, with the average negative change recorded at 7.82%.

The historical figures provide the monthly performance context for the index alongside its current trading levels. The index’s technical rating was classified as Neutral on November 11, with moving averages, technical indicators and moving-average crossover readings shown as unavailable.

The classic pivot point stood at 17.54, with resistance levels at 18.32, 19.21 and 19.99, and support levels at 16.65, 15.87 and 14.98. Under the Fibonacci calculation, the pivot remained at 17.54, while the Camarilla pivot was also 17.54. India VIX stood at 17.71, up 1.21%, at 9:53 AM IST on November 11, after opening at 17.42. Its reported 52-week range was 8.72–28.90, while its year-to-date return stood at 86.81%. The opening-session data coincided with developments in crude oil, US inflation, Treasury yields, foreign investment flows and domestic corporate earnings.