Reuters Market Eye - The NSE volatility index gains 10 percent, heading towards its biggest single-day percentage gain since September 30, 2013, reflecting the pressure on emerging markets.
The CBOE Emerging Markets Volatility Index also surges, heading for its biggest single-day rise since June 2013.
VIX measures the cost of protection via options and is seen by some investors as a "fear" gauge.
Dealers say the rise in the NSE's volatility index also reflects uncertainty ahead of the central bank's policy review on Tuesday.
(Reporting by Abhishek Vishnoi)
