Indian markets opened on a strong note on Wednesday on the back of buying interest seen in realty, banking and oil & gas stocks. At 9.51 a.m, the Sensex was trading up 84.56 points or 0.31% at 27,760.60 with 17 components gaining. Meanwhile, the Nifty was trading higher by 18.35 points or 0.22% at 8,396.10 with 31 components gaining.

India VIX, a volatility index, gained on Wednesday. It is currently trading at 17.06, up 0.20% from 17.03. It witnessed a high of 17.11 and low of 14.69 after opening at 17.03 (at 9.55 am).

Volatility Index is a measure of market's expectation of volatility over the near term. Volatility is often described as the ''rate and magnitude of changes in prices'' and in finance often referred to as risk.

India VIX is a volatility index based on the Nifty Index Option prices. From the best bid-ask prices of Nifty Options contracts, a volatility figure is calculated which indicates the expected market volatility over the next 30 calendar days.