India VIX Today
NSE's volatility index: today's level, a chart of every session since 2014, the Nifty move it implies, and how volatile the market actually turned out after each VIX level.
India VIX is 15.99 in today's session, higher than 72% of the past year's closes; it implies a Nifty move of about ±0.84% a day and ±4.62% over 30 days.
India VIX today with its full daily history since 2014 from NSE: where it sits against its own past, the Nifty move it implies for a day and a month, and what the Nifty actually did after every VIX level.
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Daily India VIX open, high, low and close from NSE’s end-of-day index file, updated after each session (no intraday bars). Volume is the index constituents’ traded shares where NSE publishes it. Charts by TradingView Lightweight Charts™ © TradingView, Inc.
India VIX is NSE's volatility index: the market's estimate, taken from Nifty 50 option prices, of how much the Nifty will move over the next 30 days, expressed as an annual percentage. A VIX of 15 says option buyers and sellers expect the Nifty to swing about 15% a year, or roughly 4.3% over a month.
High VIX means expensive options and an anxious market; low VIX means cheap options and a calm one. It is not a direction signal: VIX rises when the market expects big moves, and big moves can go either way, although in India, as elsewhere, VIX tends to jump when the Nifty falls.
How to read the implied move
Divide VIX by the square root of 365 for a one-day move and by the square root of 12 for a 30-day move. With VIX at 15, the one-day figure is about 0.79% and the monthly about 4.3%. If the options market is right, the Nifty ends inside that band roughly two times in three; a third of the time it moves further.
VIX vs the volatility that followed
Implied volatility is usually higher than the volatility that actually follows: option sellers demand a premium for the risk of a sudden move. The panel above measures that gap for India VIX over every session since 2014, and the regime table shows the Nifty's realised volatility, average return and win rate over the following month at each VIX level.
Read the high-VIX rows with care. Readings above 25 are rare and cluster in a few episodes, most of all March 2020, so their averages rest on a small number of independent events.
Where the data comes from
Daily open, high, low and close are from NSE's end-of-day index file; during market hours the latest level is a delayed quote. The full history downloads as CSV.
Key takeaways
- India VIX is the annualised 30-day volatility implied by Nifty options.
- Daily implied move: VIX / 19.1; monthly: VIX / 3.46.
- VIX has usually been higher than the volatility that followed.
- High VIX signals expected movement, not direction.
- Full daily history since 2014 downloads as CSV.
Frequently asked questions
What is India VIX today?
The panel at the top shows today's level, its change and where it ranks against the past year, updated through the session and closed out from NSE's index file each evening.
What is a high India VIX?
Since 2014 the median close has been about 15. Readings above 20 are elevated and above 25 are rare; the record was 83.61 on 24 March 2020. Below 12 is unusually calm.
How is India VIX calculated?
NSE computes it from the order book of near and next-month Nifty 50 options, using the same method as the CBOE VIX, and annualises the expected volatility over the next 30 calendar days.
Does a high VIX mean the market will fall?
No. VIX measures the size of expected moves, not their direction. It does tend to rise while the market falls, and the table above shows what the Nifty did over the month after each VIX level.
How do I convert India VIX into an expected Nifty move?
Divide VIX by the square root of 365 for one day or by the square root of 12 for a month, and apply that percentage to the Nifty. The page does this for the latest close.