Reuters Market Eye - NSE's volatility index, or the domestic equivalent of the VIX fear gauge, advances 10.4 percent, heading for its biggest single day rise since January 27 as rising tensions in Ukraine cast a shadow over emerging markets.
The Nifty falls 0.97 percent, on its way to snapping a five-day wining streak that saw the index gain 3.1 percent.
Also, CBOE Emerging Markets ETF volatility index is heading for the biggest single day gain since February 3.
(Reporting by Abhishek Vishnoi)