Reuters Market Eye - NSE's volatility gauge, India VIX <.NIFVIX>, jumps 13.7 pct, heads towards its biggest daily surge since March 2014 and marks its highest intraday level since Nov. 10.
Indian shares slump on global market falls, dimming rate cut hopes.
VIX is pricing in India's global linkages and uncertainty on future rate cuts after rupee's surge - traders.
55 pct of Nifty revenues are non-rupee, Credit Suisse said earlier this month.
Indian rupee earlier hit 13-mth low on global growth fears; trade data.
Sliding oil prices, all-time low rouble and a downbeat China factory survey spark sell-off in global risk assets
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($1 = 62.8000 rupees)
(Reporting by Abhishek Vishnoi)