India VIX- the gauge to measure market volatility, has been on a strong uptrend of late, rising over 36% since the start of September, and nearly 61% year-to-date, thanks to increased market volatility and uncertainties due to geopolitical factors.
The 9–12 range is considered the lower band, while 12-15 is the normal range for the India VIX.
While the fear index is still near the normal range, its sustained rise since September indicates it is time to brace for sharp intraday swings.
After touching a record low of 8.72 on 1 January 2026, the volatility index started its uptrend till March, rising to 28.91 after oil prices rose sharply due to the US-Iran conflict. Notably, the US and Israel launched coordinated air strikes on Iran on 28 February.
However, for the next five months- from April to August - the index saw a sustained decline on the monthly scale, coming back to levels near 9 amid various diplomatic efforts to resolve the West Asian conflict.