Daily Current Affairs – 30 – March – 2020

Daily-Current-Affairs

A measure of volatility via prism of markets

VIX helps predict the overall market volatility expectations over the next 30 days

What is India VIX?

  • India VIX is an index that serves as a measure of market expectation of volatility in the near term.
  • VIX index reflects the overall market volatility expectations over the next 30 days. 

What does a spike in VIX mean?

  • A spike in the VIX value means the market is expecting higher volatility in the near future.

Why do we have a VIX index?

  • The VIX index was first created by the Chicago Board Options Exchange (CBOE) and introduced in 1993 based on the prices of S&P 500 index.
  • Since then, it has become a globally-recognised gauge of volatility in the U.S equity markets. 
  • The India VIX was launched with a similar intent in 2010 and is based on the computation methodology of CBOE though amended to align with the Indian markets.
  • The VIX value is among the important parameters that are taken into account for pricing of options contracts, which are one of the most popular derivative instruments.

How is the VIX index behaving currently?

  • In the current calendar year, the India VIX index has jumped fivefold, from around 12 levels to the current 67 levels, which clearly hints that the market perceives that volatility will only increase in the coming days.
  • The index is currently trading at record highs and on some days in the recent past, saw a surge of more than 20% in a single day. 
  • Given the nature of the index, it is also known as ‘fear gauge’ or ‘fear index’.

Source : The Hindu

Air quality improves in over 90 cities

Topic  : GS 3 Conservation, environmental pollution and degradation, environmental impact assessment 

With a nationwide lockdown in place, over 90 cities, including Delhi, recorded minimal air pollution in the last few days.  

Air quality in Indian cities

  • The air quality in Ne Delhi is presently in the “good” category.
  • In Kanpur, which has high pollution levels, it is in the “satisfactory” category.
  • 92 other cities with CPCB monitoring centres have recorded minimal air pollution, with the air quality in the range of “good” to “satisfactory”.

The National Air Quality Index’ (AQI)  

  • AQI, is a ‘One Number- One Colour-One Description’ for the common man to judge the air quality within his vicinity. 
  • AQI will offer data on near real time basis regarding the quality of air based on the concentration of eight pollutants in the air.
  • The eight pollutants are PM10, PM2.5, NO2, SO2, CO, O3, NH3, and Pb for which short-term (up to 24-hourly averaging period) National Ambient Air Quality Standards are prescribed.
  • There are six AQI categories, namely Good, Satisfactory, Moderately polluted, Poor, Very Poor, and Severe.
  • An AQI between 0-50 is considered good, 51-100 satisfactory, 101-200 moderate, 201-300 poor, 301-400 very poor and 401-500 severe.
  • Based on the measured ambient concentrations of the above mentioned pollutants, corresponding standards and likely health impact, are tabulated .

Upsc Corner

Model questions  [UPSC Prelims 2016]

In the cities of our country, which among the following atmospheric gases are normally considered in calculating the value of Air Quality Index?

  1. Carbon dioxide 
  2. Carbon monoxide 
  3. Nitrogen dioxide 
  4. Sulfur dioxide 
  5. Methane 

Select the correct answer using the code given below.

(a) 1, 2 and 3 only

(b) 2, 3 and 4 only

(c) 1, 4 and 5 only

(d) 1, 2, 3, 4 and 5

Sources: The Hindu  The Hindu pib 

Here is an article which explains all you want to know about  Air quality Index The Hindu

Himalayan Ibex a distinct species 

Topic : GS 3 Conservation, environmental pollution and degradation, environmental impact assessment.

A recent study by scientists of the Zoological Survey of India (ZSI) has proved that Himalayan Ibex, distributed in the trans-Himalayan ranges of Jammu and Kashmir, Ladakh and Himachal Pradesh, is a distinct species from the Siberian Ibex.

Siberian Ibex

  • Siberian Ibex is a species of wild goat and is distributed in diverse habitats, ranging from cold deserts, rocky outcrops, steep terrain, high-land flats and mountain ridges to low mountains and foothills.
  • From Mongolia, its distribution extends towards Altai, Hangai, Gobi-Altai, the Hurukh mountain ranges as well as Sayan Mountains near Russia and scattered populations in the small mountains of Trans-Altai Gobi.
  • In Asia, Ibex is distributed in the Montane habitats, ranging in elevations from 500 m to 6,700 m in countries like India, Kazakhstan, Tajikistan, Mongolia, Pakistan, Southern Siberia and China. 
  • In India, the Ibex is distributed mainly in the trans-Himalayan ranges of the Union Territories of Ladakh and Jammu and Kashmir and Himachal Pradesh up to the river Sutlej.
  • According to the IUCN red list it is in Least concern.

Source : The Hindu

U.S. cancels Red Flag air exercise

The U.S. Air Force has cancelled Phase-I of its flagship multilateral air exercise, Red Flag, scheduled in Alaska from April 30. The Indian Air Force (IAF) was to take part in the exercise with its Sukhoi Su-30 fighter jets, defence sources said. Red Flag-Alaska is a Pacific Air Forces-sponsored exercise meant to provide realistic training in a simulated combat environment over the Joint Pacific Alaska range complex, according to information on the U.S. Pacific Air Force website.

Source : The Hindu

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