VIX advances for the fourth day as Nifty rises to record levels

India's benchmark gauge of protection against stock market swings rose for a fourth straight day as the CNX Nifty Index extended gains to an all-time high. The India VIX Index, a gauge of option prices, added 0.1 per cent to 13.8 at the close, the longest streak of increases since October 16.

"Investors are buying call options as they expect markets to rally further," Alex Mathews, head of research at Geojit BNP Paribas Financial Services, said. Foreigners bought $129 million of index options November 3, a 10th straight day of purchases. They invested $311 million in stocks on October 31, the most since August 7, extending this year's net inflows to $14 billion, the most among eight Asian markets tracked by Bloomberg.