India VIX Rises 4.36% as Volatility Rebounds After July’s Sharp Spike 

Mumbai, Aug 10: India VIX rose 0.53 points, or 4.36%, to 12.69 as of 10:13 IST on Monday, marking a rise from the previous close of 12.16. The volatility index opened at 12.15 and moved between an intraday low of 10.81 and a high of 12.91 during the opening session. Despite the morning increase, India VIX remained well below its 52-week high of 28.90 and above its 52-week low of 8.72. 

India VIX Gains 4.36% As Opening-Session Volatility Rises 

India VIX began Monday’s trading session at 12.15, almost unchanged from Friday’s previous close of 12.16, before moving higher during the morning. The index touched an opening-session high of 12.91 and a low of 10.81, before standing at 12.69 at 10:13 IST. 

The movement represents a 4.36% increase from the previous close. India VIX measures expected volatility in the NIFTY market over approximately the next 30 calendar days, based on NIFTY options. The latest reading therefore reflects the level of volatility being priced into the options market during Monday’s opening session. 

12.69 VIX Remains Far Below the 28.90 52-Week High 

At 12.69, India VIX remains substantially below its 52-week high of 28.90. The index is also above its 52-week low of 8.72, placing Monday’s opening-session reading within the lower portion of its one-year range. 

The current level follows a sharp rise in volatility during July and the subsequent decline towards the 11–12 range in late July and early August. Monday’s opening-session increase therefore comes after a period in which India VIX had moved down from the elevated levels recorded earlier. 

July’s 30% Spike Sets Context for Monday’s Opening Move 

The latest movement follows a sharp India VIX spike in July, when the index rose by roughly 30% in a single session as the NIFTY 50 and Sensex came under heavy selling pressure. Geopolitical uncertainty, crude-oil concerns and the broader decline in Indian equities were among the factors highlighted during that period. 

India VIX had been at relatively subdued levels before the July increase. The sharp rise represented a significant change in the volatility environment, after which the index gradually moved lower towards the 11–12 range. 

India VIX Fell Around 16% Before August’s Policy Decision 

By the beginning of August, India VIX had declined sharply from the levels recorded during the July volatility episode. A report dated 1 August recorded an approximately 16% fall in the index ahead of the Reserve Bank of India’s monetary-policy decision. 

The decline came as the market approached the RBI’s August policy meeting, with the period also marked by easing crude prices, relatively constructive domestic flows, continuing Q1 FY27 earnings and the absence of a major fresh geopolitical shock. 

RBI Keeps Repo Rate at 5.25% Before Monday’s Session 

The Reserve Bank of India kept the repo rate unchanged at 5.25% at its August monetary-policy meeting. Following the policy decision, India VIX moved towards the 12 level. 

The policy outcome removed one of the major domestic events that had been part of the volatility backdrop during the first week of August. India VIX subsequently remained around the 12 region before Monday’s opening-session movement. 

7 August India VIX Closed Near 12.16 

On Friday, 7 August, India VIX remained relatively contained. Market references placed the index around 12.15–12.18, with one reference showing an opening level above 12.45 and a closing level around 12.15–12.18. 

The NIFTY 50 closed at approximately 24,570.65, down around 0.27% on the day. India VIX, however, remained near the 12 level, with no comparable volatility spike to the one recorded during July. 

August Seasonality Shows 13 Positive Years Out Of 18 

Historical seasonality data show that India VIX has recorded positive returns in 13 out of 18 years during August. The month’s maximum positive change was 68.84% in 2015, while its average positive change was 17.29%. 

August’s maximum negative change was 11.26% in 2016, with an average negative change of 6.01%. The historical average change for the month stands at 10.82%. These figures provide the historical August context for Monday’s opening-session movement. 

Crude Oil and Geopolitics Remain Key Volatility Factors 

Crude oil and geopolitical developments continue to form part of the India VIX backdrop. Market reports have identified both factors as important catalysts for changes in volatility. 

Higher crude prices can affect India’s import bill, inflation expectations, the rupee, corporate margins and interest-rate expectations. The July India VIX spike also occurred amid geopolitical uncertainty and crude-oil concerns, linking developments in global markets with movements in Indian equities and volatility. 

Q1 FY27 Earnings Continue to Shape Market Volatility 

The ongoing Q1 FY27 earnings season remains another factor in the current market environment. Corporate results through July and August have contributed to company-specific movements alongside broader macroeconomic developments. 

Recent market commentary has linked the India VIX environment with earnings, RBI policy and crude oil. However, the information supplied does not indicate a broad-based volatility spike from the earnings season comparable with the sharp movement recorded during July. 

Index-Options Volumes Fell Over 50% During FY26 

The current India VIX reading also comes against a changing derivatives-market backdrop. Industry data indicate that index-options volumes on the National Stock Exchange and Bombay Stock Exchange fell by more than 50% during FY26. 

Index-option contracts declined from approximately 131.4 billion lots to 62.8 billion lots during the period. The change represents a substantial reduction in derivatives activity compared with the previous level. 

India VIX Opens Near 12.15 Before Reaching 12.91 

Monday’s opening-session data show that India VIX started at 12.15, compared with Friday’s previous close of 12.16. The index subsequently recorded a low of 10.81 and a high of 12.91, before standing at 12.69 at 10:13 IST. 

The movement means the index was trading 0.53 points higher, representing a 4.36% increase from the previous close. The morning range of 10.81–12.91 also shows the variation recorded during the opening session. 

India VIX Stays Near 12–13 After July Volatility Spike 

The latest opening-session reading places India VIX around the 12–13 zone after the index had moved sharply higher in July and subsequently declined towards 12. 

The index remains below its 52-week high of 28.90, while the current level of 12.69 is above its 52-week low of 8.72. Monday’s movement therefore comes within the broader period following July’s sharp volatility increase and the subsequent decline seen during late July and early August. 

India VIX stood at 12.69 at 10:13 IST on 10 August 2026, up 4.36% from Friday’s 12.16 close. The index opened at 12.15, recorded an opening-session range of 10.81–12.91, and remained below its 52-week high of 28.90, with recent volatility shaped by July’s spike, RBI policy, crude oil, geopolitics and Q1 FY27 earnings. 

Source 

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