New Delhi, March 10 -- The volatility index India VIX declined more than 15% on Tuesday, March 10, following hints of de-escalation in the US-Iran conflict and a drop in crude oil prices.

India VIX fell as much as 15.2% to 19.7975 during the session.

The volatility index reflects the market's expectations of near-term fluctuations. Volatility is commonly defined as the rate and magnitude of price movements, and in financial markets it is often associated with risk.

India VIX indicates the extent to which the underlying index is expected to move in the near term. It is calculated as annualised volatility, expressed as a percentage (for example, 20%), based on the order book of options linked to the underlying index.

Despite Tuesday's d...