Mumbai, April 9 -- The key equity indices traded with modest losses in the morning trade, weighed down by negative global cues. Further, RBI Governor Sanjay Malhotra announced a repo rate cut. Governor Malhotra revealed that the Monetary Policy Committee (MPC) has decided to reduce the repo rate by 25 basis points to 6%. The Nifty traded below the 22,450 mark. Trading could be volatile due to the weekly Nifty50 F&O series expiry today.

IT shares tumbled after advancing in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, fell 295.49 points or 0.40% to 73,933.57. The Nifty 50 index lost 114.35 points or 0.51% to 22,421.50.

In the broader market, the S&P BSE Mid-Cap index slipped 1.42% and the S&P BSE Small...