The Nifty index closed at 25,471.10, down 336 points or 1.30%. The BSE Sensex dropped 1,048.16 points or 1.25% to finish at 82,626.76. India's volatility indicator, India VIX, eased slightly to 11.73, down 1.53% from the previous day. Nilesh Jain, Vice President at Centrum Finverse, noted the Nifty fell below important moving averages at 21-, 50-, and 100-day levels, aiming to fill last week’s downside gap. He said, "The crucial support at the 200-DMA near 25,300 is likely to be tested soon." Jain added, "India VIX had surged sharply earlier to around 13, and any further rise in volatility could be a cause for concern." He described the market as weak to sideways, warning, "Pullback rallies are likely to face selling pressure as long as the Nifty remains below 25,800." In Europe, major markets like Germany’s DAX and France’s CAC 40 were trading higher, while Spain’s IBEX slipped slightly. Rupak De, Senior Technical Analyst at LKP Securities, said, "India VIX has moved back above its 200-DMA, indicating rising caution among market participants." He added the Nifty has broken below its 20-day moving average and the 38.2% Fibonacci retracement level, warning of a potential drop towards 25,000. He identified resistance at about 25,800. On the BSE, Bajaj Finance, Infosys, and HDFC Bank led trading in value, while SpiceJet and Vodafone Idea topped volume charts. Notable buying interest was seen in Bajaj Finance, Lenskart Solutions, and Engineers India. Meanwhile, 83 stocks hit 52-week highs, including Apex and Eicher Motors, but 193 stocks touched 52-week lows. Significant selling hit large caps like HDFC Bank, Reliance Industries, and ICICI Bank. Market breadth was weak with 2,960 declines among 4,364 stocks. Experts caution cautious trading ahead as markets test key levels.