State Bank of India (SBI) and ICICI Bank Ltd advanced after the Reserve Bank of India (RBI) introduced new rules on structuring stressed assets. Photo: Aniruddha Chowdhury/MintMumbai: A measure of protection against stock market swings in India rose to the highest in six weeks as a growing chance the UK will leave the European Union fueled anxiety among investors. The India NSE Volatility Index climbed for a fifth day, the longest stretch since November, while the benchmark S&P BSE Sensex was little changed after flipping direction at least 20 times. “If there’s a correction due to the Brexit, investors will buy into India,” Ajay Srivastava, managing director at Dimensions Consulting Pvt. Tata Consultancy Services Ltd (TCS) and Infosys Ltd, software services providers that get about a quarter of their revenue from Europe, also fell.

Source: Mint June 14, 2016 04:19 UTC