New Delhi, April 9 -- Indian stock markets faced a sharp sell-off on April 9, despite a widely anticipated 25 basis point cut in the key policy rate by the Reserve Bank of India's (RBI) Monetary Policy Committee. The central bank also changed its stance from 'neutral' to 'accommodative', signaling a tilt towards more growth-friendly policies. However, rate-sensitive sectors like banking, NBFCs, and realty underperformed, reflecting lingering investor concerns amid global economic uncertainties.

The Sensex declined 554 points to hit an intra-day low of 73,673.06, while the Nifty 50 fell 179 points to 22,356.60. Broader markets bore deeper losses, with the Nifty Midcap and Smallcap indices each slipping over 1.5 percent.

RBI Governor Sanj...