Reuters Market Eye - The NSE volatility index gains 7.8 percent, after earlier marking its highest intraday level since December 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.
The Nifty has fallen 5.5 percent over the previous seven sessions, while MSCI Emerging Markets index <.MSCIEF> has dropped 3.9 percent over the same period.
(Reporting by Abhishek Vishnoi)