The benchmark gauge of demand for Indian equity options headed for its longest stretch of losses in four months as the CNX Nifty index climbed to its highest level in a week.
The India VIX Index slid 2.6 per cent to 15.59 at 11:46 am in Mumbai, taking its loss over a five-day period to 12 per cent. The 50-stock Nifty rose 0.8 per cent to 8,522.60, while the 30- member S&P CNX Sensex added 0.9 per cent to 28,190.34.
The Nifty has advanced 1.9 per cent this week amid eased investor concerns as Greece neared a deal with its creditors and data on Wednesday showed China's economic growth in the April- to-June quarter exceeded estimates. Investor focus has shifted to the earnings season, with Reliance Industries, HDFC Bank and Infosys among Sensex companies reporting results for the quarter ended June over the coming week.
