The percentage of days on which the NSE Nifty 50 Index moved more than 1 percent in either direction this year has more than doubled compared with last year. The 50-stock index returned nearly 30 percent in 2017 in comparison with a decline of 1.5 percent so far this year.
A Volatile 2018
After hitting a lifetime high on Jan. 29, Nifty declined more than 10 percent to sub-10,000. It has been a tug-of-war between the bulls and bears with the index ending lower in seven weeks and returning gains in eight. Of the 68 trading days, 12 sessions, or 18 percent, resulted in more than 1 percent move for the index. India VIX, a measure of volatility, lost 20 percent during the year, the worst since 2012.
A Calm 2017
Last year, the index returned nearly 30 percent, and corrections were scarce and didn’t last long. In fact, the maximum the index fell was a 3.5-percent drawdown in the week ended August 13. Of the 248 trading days, only 20, or 8 percent, saw a more than 1 percent move in the Nifty. India VIX has surged nearly 15 percent this year, the most since 2011.