India’s Nifty and Sensex slipped over 1% as Middle East tensions pushed India VIX higher by 15%, touching 16.37 on an intraday basis, a 9-month high. While Nifty Midcap 100 fell 0.80% and Smallcap 100 dropped 1.08%, costlier crude remains a macro headache, pressuring the Indian rupee and reigniting inflation risks.