India VIX Caps Best Monthly Gain Since April as Nifty Calls Drop
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India’s benchmark gauge of protection against equity market swings posted its biggest monthly gain in nine months as stocks slid from a record high after 10 days of advances.
The India VIX, a gauge of protection against stock market swings, rose 3.8 percent at the close in Mumbai, taking its monthly gain to 33 percent. The CNX Nifty Index slid 1.6 percent to 8,808.90 after an 8.2 percent jump in the past 10 days. The Nifty 9000 call, the most popular option by the number of outstanding contracts, lost 27 percent at 4:52 p.m. The Nifty 8700 put, the second-most popular option, jumped 24 percent.