Indian volatility index hits 2014 high as shares falter

Written by Reuters | Updated: Feb 4 2014, 22:32pm hrs
Indian marketIndia's NSE index has fallen 5.5 percent over the previous seven sessions. Reuters
The NSE volatility index gains 7.8 percent, after earlier marking its highest intraday level since Dec. 9, reflecting the pressure on emerging markets.

The CBOE Emerging Markets ETF Volatility Index surged on Monday, marking its highest close since June 25, 2013.

VIX measures the cost of protection via options and is seen by some investors as a "fear" gauge.

India's NSE index has fallen 5.5 percent over the previous seven sessions, while MSCI Emerging Markets index has dropped 3.9 percent over the same period.