Indian Stock Market Volatility Surges: What's Next?

The India VIX, which gauges volatility in the Indian markets, jumped 51.25% to 21.78, the highest level since June 4. It was trading 49.14% higher at 21.36 as of 11:09 a.m.
Benchmark opened sharply lower on Monday as tracking losses in heavyweight Reliance Industries Ltd., and HDFC Bank Ltd. Sell-off in Asian peers in the wake of unwinding in yen-carry-trade also weighed on the indices.
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