Caution over the ongoing Lok Sabha elections continued to unnerve investors as they rushed to hedge their positions, leading to India VIX rising for the eighth consecutive session on Monday. The volatilityindicator soared 13.6% to 16.6, registering its biggest single day rise in more than a year. This was also the highest level for the index in over a year.

Market experts said there is a feeling that the ongoing Lok Sabha elections may not be a walk in the park for the ruling government. This was not the case 2-3 weeks ago.

While many still believe the ruling National Democratic Alliance (NDA)-led by Bharatiya Janata Party (BJP) will come back to power, there are divergent opinions on the number of seats that it can win.

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