Market Jitters as RBI Cuts Rates Amid Global Trade Uncertainty

Indian equity markets faced turbulence on April 9 as the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points to 6 percent, shifting its stance to "accommodative." While the move was intended to support domestic demand, global trade concerns overshadowed the sentiment, leading to a sharp decline in benchmark indices.  

Key Highlights:  
- Sensex & Nifty Slide: The Sensex dropped 386 points to 73,910, while the Nifty slipped 101 points to 22,434, with weak market breadth.  
- Mixed Sector Reaction: Bank Nifty fell 0.57 percent, while consumer stocks like Nestle India gained over 3 percent.  
- IT Stocks Hit Hard: Wipro plunged 4 percent, while Tech Mahindra, Infosys, and Tata Steel lost over 2 percent.  
- GDP Growth Downgrade: RBI revised its FY26 GDP forecast to 6.5 percent from 6.7 percent due to global uncertainties.  
- Inflation Outlook: Inflation expectations softened, with projections lowered to 4 percent.  
- Global Trade Tensions: US President Trump confirmed steep 104 percent tariffs on Chinese goods, raising fears of a broader slowdown.  

Investor sentiment remains fragile as external risks loom large. Market participants will be closely watching geopolitical developments and corporate earnings for further direction.  

Sources: Zee Business, Economic Times, NiftyTrader