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BUZZ-India's volatility index surges; shares, rupee slump
September 27, 2017 / 10:02 AM / in 24 days

BUZZ-India's volatility index surges; shares, rupee slump

** NSE’s volatility index, the domestic equivalent of the VIX fear gauge, rises as much as 9.6 pct to 14.165, its highest since Aug 22

** Volatility rises after Indian army reports firefight against insurgents along India-Myanmar border

** Fighting has inflicted “heavy casualties” on insurgent group National Socialist Council of Nagaland (K); Indian security forces did not suffer any casualties, Indian Army says

** The broader NSE index declines as much as 1.46 pct, while benchmark BSE index drops as much as 1.44 pct

** Both indexes hit their lowest in over six weeks

** Rupee trades at 65.72/dlr, near more than six-mth low of 65.77 hit earlier in the day

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