Investors in Indian shares are growing increasingly anxious after a stellar rally.
The India VIX Index, which measures the cost of NSE Nifty 50 Index options, has risen the most since September 2016 in January, climbing in tandem with the equity gauge. While the trend has been similar in the US and other Asian markets, it’s especially pronounced in India, where five straight weeks of simultaneous gains marked a record.
With Finance Minister Arun Jaitley readying to deliver the Union Budget 2018 on Thursday, traders are seeking to hedge a rally that has added more than $425 billion in equity