Indian stocks closed lower as the RBI's monetary policy committee kept the repo rate at 6.50%, signalling that monetary conditions will remain tight, fearing inflation staying above the central bank's 4% target this year. The Nifty 50 index fell 0.49% at 18,634.55 and the Sensex 0.47% to 62,848.64. GameStop plummeted by 16.9% after ousting its CEO. Tech shares slipped due to expectations of further interest rate hikes and more losses were seen for shares of NIIT, BEML Land Assets, and Swastik Pipe.