India VIX hits 5-month low. Could market stability attract smart money?

India VIX dropped to 11.70 in intraday trade on 7 July, its lowest level since February and roughly 60% below the March peak of 28.91, as crude oil retreated toward the $70 zone and Iran-US Doha talks progressed. The decline signals reduced near-term uncertainty and has coincided with FPIs turning net buyers of Indian equities this month. However, experts cautioned that VIX below 12 has historically preceded meaningful Nifty corrections, with the upcoming earnings season, monsoon progress, and outcome of US-Iran peace talks remaining key swing factors.