Sensex, Nifty crash: India VIX surges 24% as bears tighten grip on D-Street

The global market rout amid surging crude oil prices signalled an energy crisis on Wednesday. The global fears spilled onto the Indian equity indices with India VIX, the volatility index, of the Indian stock market surging 23.87% to 21.22 against 17.13 on Monday. 

Sensex crashed 1795 points intra day to 78,443 and Nifty tanked 560 points to 24,305. 

Market cap of BSE-listed firms fell by Rs 9.13 lakh crore to Rs 447.42 lakh crore today against the market cap of Rs 456.55 lakh crore on March 2. 

On a year-to-date basis, the volatility index has surged 122%, reflecting bearsish sentiment in the Indian stock market affected by Trump tariffs, US-Iran War and the global economic slowdown.

The rising market volatility reflects in the benchmark indices with Sensex plunging by 7.62% and Nifty by 6.81%.