Volatility index at 4 month high on fears of profit booking during polls

NSE's volatility index, or the domestic equivalent of the VIX fear gauge, advances 11.2 percent, to mark its highest in four months on rising fears of profit-booking after a recent rally as the world's largest democracy goes to polls, starting Monday till May 12.

Indian shares rose to a life-high on April 3, mainly on hopes that the domestic economy is reviving and main opposition Bhartiya Janata Party, seen as more business-friendly, would come to power.

Also, CBOE Emerging Markets ETF volatility index rose 7 percent on Friday.

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