Sensex dives 500 points over Urjit Patel's resignation, state poll trends

WION Web Team
Mumbai, Maharashtra, India Published: Dec 11, 2018, 09:34 AM(IST)

File photo Photograph:( Reuters )

Story highlights

The markets dived further as state polls leads began pouring in which showed the BJP trailing in big states

The BSE Sensex opened 500 points down in early trade on Tuesday after RBI governor Urjit Patel's resignation which was announced a day earlier. The NSE Nifty was also down losing 131 points.

The Sensex was at 34,458.86 with the Nifty at 10354.70.

The markets dived further as state polls leads began pouring in which showed the BJP trailing in big states in Rajasthan, Madhya Pradesh and Chhattisgarh.

On Monday, the Sensex had dived by 714 points on the back of "unfavourable" state exit poll results for the ruling BJP announced by various media agencies on Friday. It was the worst single-session fall for the benchmark BSE index since October 11.

The Sensex lost over 2 per cent, to close at 34,959.72 on Monday. Most stocks including realty, banking, metal, pharma, pharma and financial stocks ended in red.    

The broader NSE Nifty too had fallen 205.25 points, or 1.92 per cent, to end at 10,488.45.

The rupee had also weakened against the US dollar in intra-day trade to hit 71.44 per due to fresh foreign fund outflows which further pulled down the markets. 

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