On Monday, Indian stock markets experienced a significant decline, with the NSE's Nifty dropping 243.7 points, or 1%, to close at 23,123, and the BSE's Sensex falling 719.08 points, or 1%, to end at 73,524.26. This downturn was largely driven by renewed missile attacks between Israel and Iran, which heightened geopolitical tensions and pushed oil prices higher. The India Volatility Index (VIX), a measure of market fear, surged 7.85% to 17.03, reflecting growing investor anxiety. Analysts noted that the ongoing escalation in West Asia negatively impacted investor sentiment, compounded by a shift in global capital from AI-related stocks ahead of the SpaceX IPO. As a result, broader market indices also fell, with the Nifty Midcap 150 and Nifty Small-cap 250 declining by 1.5% and 1.8%, respectively. Experts suggest that if oil prices remain high, Indian companies may need to raise prices further, while the market is expected to remain range-bound in the near to medium term, with large and mid-caps showing more stability than small-caps.