Nifty falls over 1%, India VIX rises 12%

The Indian stock market benchmarks Nifty 50 and Sensex reversed gains and tumbled
Nifty falls over 1%, India VIX rises 12%

Why is the Indian stock market so volatile? Stock market news: The Indian stock market benchmarks, the Nifty 50 and the Sensex, failed to maintain their early gains on Friday, May 3, falling dramatically due to profit booking across sectors.

 The Nifty 50 began 118 points higher at 22,766.35, compared to its previous close of 22,648.20, and increased 0.65 percent to 22,794.70. The index, however, lost all gains, falling as high as 0.90 percent to 22,454.80.

The Sensex began 407 points higher at 75,017.82, up from its previous close of 74,611.11, and gained 484 points, or 0.65%, to 75,095.18. The index, however, slid more than a percent to 73,831.42. Around 12:10 p.m., the Nifty 50 was down 0.70 percent at 22,492.35, while the Sensex was down 0.90 percent at 22,492.

The selloff was broad-based, with the BSE Midcap index falling 0.48% and the Small cap index falling 0.81% at the moment. Volatility index India VIX fell 12% to 15, showing market uneasiness.