The benchmark gauge of Indian option costs rose to a 15-month high as stocks slumped after data showing economic growth trailed estimates.
The VIX Index, a measure of demand for protection against equity-market swings, surged 16.8 percent to 28.72, its highest close since May 2014. The CNX Nifty index sank 2.3 percent to 7,785.85. The S&P BSE Sensex lost 2.2 percent to 25,696.44.
