Sensex drops 350 points, Nifty below 24,100 as Middle East conflict escalates. What lies ahead?

Sensex dropped around 350 points with Nifty slipping below 24,100 as escalating Iran-US conflict in the Middle East disrupted crude oil shipments through the Red Sea, pushing Brent crude above $92 per barrel. India VIX rose 3 percent to 12.98 reflecting rising uncertainty, while Nifty Pharma fell over 1 percent after fresh US tariff threats. Broader markets also turned red with Nifty Smallcap 100 and Nifty Midcap 100 indices declining up to 0.5 percent, though analysts remain optimistic that dips present buying opportunities given stable rupee and supportive FPI flows.