New Delhi, March 4 -- India VIX, or the fear gauge that indicates the degree of nervousness in the Indian stock market, is going through the roof amid an escalating US-Iran conflict, a sharp surge in crude oil prices, and the rupee's fall to record lows. The volatility index surged by more than 21% intraday on Wednesday, March 4, hitting the 21 mark. Thus, the Index has surged more than 60% in just three sessions.

The Indian stock market has been enduring strong bouts of volatility this year, as indicated by the India VIX, which has surged more than 121% year-to-date, or in just a little more than two months.

According to market experts, the 9-12 range is the lower band of the India VIX index, while the normal range for the index is 12 ...