New Delhi, April 9 -- Indian equity markets closed in the red on Wednesday, April 9, after the Reserve Bank of India (RBI) announced a widely anticipated 25 basis point cut in the repo rate, bringing it down to 6 percent. While the rate cut was the second this year, what caught investors off-guard was the central bank's shift in policy stance from 'accommodative' to 'neutral', signalling a more measured approach going forward.

This change in tone spurred a sell-off across sectors, dragging the benchmark indices lower. The Sensex dropped 554 points to an intra-day low of 73,673.06, while the Nifty50 fell 179 points to touch 22,356.60. Broader markets bore the brunt of the decline, with both the Nifty Midcap and Smallcap indices losing mor...