Indian equity indices experienced their worst weekly decline in three months, with the Sensex and Nifty falling significantly. This downturn was driven by investor caution stemming from ongoing US-India trade uncertainties and heightened geopolitical tensions, particularly concerning Russia-related sanctions. Market volatility increased, evidenced by a surge in India VIX. Investors saw substantial losses in market capitalization over the week, with a record fall for the first nine days of the calendar year.