Indian equities opened with a bang and is trading higher on Monday on the back of intense buying by FIIs. Both Sensex and Nifty are trading at a new life time high. At 9.50 a.m, the Sensex was trading up 120.68 points or 0.43% at 28,455.31. Meanwhile, the Nifty was trading higher by 43.20 points or 0.51%.

India VIX, a volatility index, declined on Monday. It is currently trading at 13.50, down 2.54% from 13.85. It witnessed a high of 13.85 and low of 9.34 after opening at 13.85 (at 09.47 am).

Volatility Index is a measure of market's expectation of volatility over the near term. Volatility is often described as the ''rate and magnitude of changes in prices'' and in finance often referred to as risk.

India VIX is a volatility index based on the Nifty Index Option prices. From the best bid-ask prices of Nifty Options contracts, a volatility figure is calculated which indicates the expected market volatility over the next 30 calendar days.