On Thursday, investor sentiment on Dalal Street in Mumbai, India, was negatively impacted by renewed geopolitical tensions following the announcement of a ceasefire between the US/Israel and Iran. The Nifty 50 index dropped 222.25 points (0.9%) to close at 23,775.1, while the BSE Sensex fell 931.25 points (1.2%) to finish at 76,631.65, breaking a five-day upward trend. This decline was attributed to profit booking amid uncertainty regarding the ceasefire, which coincided with a spike in crude oil prices, with Brent crude trading close to $99 per barrel. Despite the downturn in benchmark indices, mid and small-cap stocks showed some resilience, with the Nifty Midcap 150 gaining 0.3% and Nifty Small-cap 250 rising 0.1%. Analysts predict that markets may stabilize over the next few months if oil prices remain manageable, while fourth quarter earnings across various sectors are expected to be positive.