India VIX, also known as the fear index, jumped 15.6% on Monday. India VIX measures the expected stock market volatility over the next 30 days, with a higher VIX indicating high volatility. Notably, investors lost ₹9.5 lakh crore as Sensex and Nifty fell 1.5% each intraday on Monday after India reported its first three cases of HMPV.