Operation Sindoor impact: Fear indicator India VIX surges 10% as Govt ups ante against Pakistan

Fear index India VIX jumped 13% to hit the day's high of 21.48 on Thursday as the headline index Nifty extended losses after the Narendra Modi government said that the armed forces had targeted Air Defence Radars and systems at a number of locations in Pakistan. This comes a day after India's targeted strikes against terrorist camps in Pakistan and Pakistan-Occupied Kashmir (PoK).

The Nifty fell by over 200 points in the intraday trade to hit a low of 24,212.45. It finally closed the session at 24,273.80, down by 140.60 points or 0.58%.

India VIX finally settled at 21.01, up by 10.21%. It has jumped by 15% in the week's time.


Selling pressure was seen across sectors with the sharpest fall of up to 2% seen in auto, metals and realty while Nifty Bank index declined 0.5%.

The government also said that Pakistan on the night of 07-08 May attempted to engage a number of military targets in Northern and Western India including Awantipura, Srinagar, Jammu, Pathankot, Amritsar, Kapurthala, Jalandhar, Ludhiana, Adampur, Bhatinda, Chandigarh, Nal, Phalodi, Uttarlai, and Bhuj, using drones and missiles. These were neutralised by the Integrated Counter UAS Grid and Air Defence systems, added the government.

Debris recovered from various sites confirms the attempted strikes by Pakistan. In addition to this, Indian Air Force S-400 Sudarshan Chakra air defence missile systems were fired last night against targets moving towards India. The targets were successfully "neutralised" in the operation, multiple domain experts told ANI.

Pakistan has increased the intensity of its unprovoked firing across the Line of Control using mortars and heavy-calibre artillery in areas in Kupwara, Baramulla, Uri, Poonch, Mendhar and Rajouri sectors in Jammu and Kashmir, said the government.

Also read: Pakistan stock market down 10% in just 4 days as India’s ‘Operation Sindoor’ triggers panic

Sixteen innocent lives have been lost, including three women and five children, due to Pakistani firing.

Indian armed forces killed over 100 terrorists in its 'Operation Sindoor', PTI reported, quoting government sources.

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