Current weakness for the Nifty 50 Index could end around 23500-23450 levels in the short term and one may expect upside bounce from the lows soon, said experts

The stock market closed in the red after RBI governor Sanjay Malhotra announced the decision to cut the benchmark repo rate by 25 basis points.

Despite a 25-basis-point repo rate cut by the Reserve Bank of India, the market closed largely in the red. However, midcap stocks continued to outperform, with the midcap index closing in positive territory.