"An index that measures investor fear in India’s stock markets recently hit its highest level in nearly a year, but hardly anyone noticed. That may change if the National Stock Exchange of India receives approval to launch trading products linked to the index.
India’s VIX, modeled after CBOE’s Volatility Index, rises when stocks fall, and vice versa. The CBOE VIX is widely followed by those trying to track market sentiment, and is used as a counter-intuitive indicator of market turning points at extreme levels.
In India, few people even know what the VIX is."
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