Volatility index at four-month high on fears of profit-taking during polls

Reuters Market Eye - NSE's volatility index, or the domestic equivalent of the VIX fear gauge, advances 11.2 percent, to mark its highest in four months on rising fears of profit-booking after a recent rally as the world's largest democracy goes to polls, starting Monday till May 12.

Indian shares rose to a life-high on April 3, mainly on hopes that the domestic economy is reviving and main opposition Bhartiya Janata Party, seen as more business-friendly, would come to power.

Also, CBOE Emerging Markets ETF volatility index rose 7 percent on Friday.

(Reporting by Abhishek Vishnoi)