India VIX index signaled rise in volatility in the markets on Friday. It is currently trading at 26.73, up 10.87% from 24.11. It witnessed a high of 27.07 and low of  23.41 after opening at 24.11 (at 1.07 pm).

Local stock markets dropped on Friday. Both Sensex and Nifty were trading below 12-month low. At 1.10 p.m, the Sensex was trading down 563.32 points or 2.19% at 25,201.46. Meanwhile, the Nifty was trading lower by 177.15 points or 2.26% at 7,645.85.

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.