India’s VIX Index Falls for Seventh Day as Nifty Rises to Record
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India’s benchmark gauge of options fell for a seventh straight day, its longest losing streak since July, with the most popular puts and calls signaling stocks may move in a range after the federal budget.
The India VIX index fell 2.2 percent to 15.49 at the close in Mumbai after changing direction at least 10 times. The CNX Nifty Index rose 0.4 percent to a record 8,996.25, after briefly rising above 9,000. Nifty calls with a strike price of 9,000 and Nifty 8,500 puts had the highest number of outstanding contracts as of 3:50 p.m. local time.