*MOFSL Derivatives Update - India VIX*
India VIX spiked up by 8.15% at 41.12 levels. It has been hovering near to 38-40 zones from the last six trading sessions and soared high today as the index slipped into negative territory of 8880 zones. The Union home ministry extended the lockdown for another two weeks till May 31 to contain the spread of coronavirus. The attributes of the package announced by the Finance Minister failed to stimulate the people as it is promising for the long term growth of the economy without addressing the immediate problem at hand. A higher VIX indicates weak sentiment among people and thus traders are advised to apply caution in the market. Now, if volatility index moves above 44 zone, then we may see further selling pressure in benchmark indices.