What the index shows
India VIX is NSE's measure of expected volatility in the Nifty 50, worked out from option prices. A reading of 12 means options are pricing calm; 25 and above means they are pricing something like a crisis. The table gives each year's average and extremes since the series begins in May 2014, with the number of days it closed at or above 20 and 25, and the Nifty 50's return for the same year.
| Year | Average | Highest close | Lowest close | Days at 20 or above | Days at 25 or above | Nifty 50 that year |
|---|---|---|---|---|---|---|
| 2014 (from 14 May) | 15.1 | 36.8 (15 May) | 11.6 (22 Sep) | 4 | 2 | +31.4% |
| 2015 | 17.6 | 28.7 (1 Sep) | 13.1 (25 Mar) | 42 | 6 | −4.1% |
| 2016 | 16.6 | 26.0 (11 Feb) | 12.8 (6 Sep) | 20 | 1 | +3.0% |
| 2017 | 12.6 | 16.8 (31 Jan) | 10.4 (25 May) | 0 | 0 | +28.6% |
| 2018 | 15.1 | 21.4 (22 Oct) | 11.9 (24 Apr) | 7 | 0 | +3.2% |
| 2019 | 16.5 | 28.7 (15 May) | 10.5 (27 Dec) | 29 | 12 | +12.0% |
| 2020 | 26.8 | 83.6 (24 Mar) | 11.5 (2 Jan) | 175 | 90 | +14.9% |
| 2021 | 18.0 | 28.1 (26 Feb) | 11.7 (16 Jul) | 89 | 6 | +24.1% |
| 2022 | 19.3 | 32.0 (24 Feb) | 12.9 (13 Dec) | 91 | 16 | +4.3% |
| 2023 | 12.5 | 17.7 (30 Jan) | 10.1 (28 Jul) | 0 | 0 | +20.0% |
| 2024 | 14.6 | 26.8 (4 Jun) | 10.2 (23 Apr) | 16 | 1 | +8.8% |
| 2025 | 13.4 | 22.8 (7 Apr) | 9.2 (26 Dec) | 6 | 0 | +10.5% |
| 2026 (to 16 Oct) | 14.9 | 27.9 (30 Mar) | 9.2 (1 Jan) | 19 | 6 | −11.4% |
Reading the years
- The calmest year was 2023, with an average of 12.5. The most nervous was 2020, averaging 26.8, with 90 days at 25 or above.
- The all-time high close in this series is 83.6 on 24 March 2020 and the low 9.2 on 26 December 2025.
- A high VIX year is not always a bad year for the index, and a low one is not always a good year. Compare the last column with the average.
Where it is now
On 16 October 2026 India VIX closed at 14.1. About 37% of daily closes since 2014 were at or below that level. That is below the 20 line options traders watch.
Using it
- VIX tells you what options traders expect, not what will happen. It tends to spike after a fall and sink in a steady rise.
- It is quoted as an annualised figure; a reading of 16 implies roughly a 1% daily move on average.
- For quarter-by-quarter detail in 2026, see India VIX in the third quarter of 2026 and the March 2026 spike.
Source: NSE India VIX and Nifty 50 daily closes, May 2014 to 16 October 2026.
Frequently asked questions
What is a normal level for India VIX?
Since May 2014 the daily close has ranged from 9.2 (26 December 2025) to 83.6 (24 March 2020), with a median of 15.2. On 16 October 2026 it was 14.1; about 37% of daily closes since 2014 were at or below that.
Which year had the highest average India VIX?
2020, at 26.8, against 12.5 in the calmest year, 2023.
What does India VIX measure?
The volatility the options market expects for the Nifty 50 over the next 30 days, annualised. A higher figure means options traders are pricing larger moves.
This is commentary on published data, not investment advice. WealthTicker is not a SEBI-registered adviser or distributor. Figures are WealthTicker’s own calculations from public data — AMFI’s fund NAVs and disclosures, NSE’s index and FII/DII files, and the fund houses’ monthly portfolios (how we calculate). They are as of the dates stated and can be revised by their source.
Keep reading
Nifty High Beta 50 vs Nifty 50 every year since 2013
The High Beta 50 beat the Nifty 50 in 7 of 14 years but has returned 135.9% since 2012 against 284.2%. In 2026 it is up 0.7% and the Nifty 50 down 13.2%.
India VIX in Q3 2026: calm gauge, falling Nifty
The Nifty 50 fell 5.2% in July–September 2026 while India VIX never closed above 14.68, the calmest quarter of 2026. Month by month.
India VIX back near 11: how fast the fear gauge fell
India VIX closed at 11.32 on 19 August 2026, down 59% from 27.89 on 30 March. Only 6.5% of closes since 2014 have been lower. How it got here.