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VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said,” The pressure on the market now is due to the uncertainty regarding the election outcome. There is lots of speculation in the media regarding this and this has added to the uncertainty in the market. The India VIX spiking 72% from the April lows indicates that high volatility will persist for some more time. It is important to understand that VIX is based on Nifty index options prices. The spike in VIX is due to rising volume of options trades. Many investors are buying put options to protect their portfolio in case of an unexpected election outcome.”

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