Fear index India VIX dips 17% as Sensex, Nifty jump 2%

India VIX, also known as the fear index, tanked more than 17% on Tuesday as the Indian stock market rose over 2%. The index measures the expected stock market volatility over the next 30 days. Sensex jumped by 1,600 points to reach 76,750 in the early trade, while Nifty rose by 2.1% to hit 23,307.