The article explores how volatility in the Indian stock market behaves differently depending on market conditions. By analyzing four market indices from 1995 to 2007, the researchers found that the Exponential GARCH model is the best at explaining this asymmetric volatility. This means that the stock market tends to react differently to positive and negative news, leading to fluctuations in prices. The study also looked at news impact curves to understand how these indices are affected by asymmetric volatility.