Indian equities gained further ground in the noon trade on Friday ahead of Economic Survey. At 12.19 p.m, the Sensex was trading up 255.68 points or 0.89% at 29,002.33 with 23 components gaining. Meanwhile, the Nifty was trading higher by 89.30 points or 1.03% at 8,773.15 with 43 components gaining.
India VIX, a volatility index, declined on Friday. It is currently trading at 19.73, down 4.13% from 20.58. It witnessed a high of 20.58 and low of 19.30 after opening at 20.58 (at 12.15 pm).
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.