India VIX, a measure of market volatility, has surged from 10 to 24 over the past month amid election-related nervousness. Analysts believe that India VIX has more room to grow.
The domestic indices remained unfazed by US FOMC minutes released on May 22 which reinforced the likelihood of interest rates remaining higher for longer
Market experts believe that uncertainty over election results has caused a spike in volatility, and markets are expected to remain volatile until the election results are announced