Business/ News Measurements Network
In the initial trading on Tuesday, after the sudden resignation of Reserve Bank of India Governor Urjit Patel, there was a huge decline in both the Sensex and the Nifty on Tuesday.
Apart from this, heavy sell-out was seen in the market on the outcome of the five state assembly elections, in which the Sensex dropped more than 500 points and the Nifty is running below 10,400 points. The Bombay Stock Exchange's Sensex is down 517.97 points or 1.48 per cent to 34,441.75.
Similarly, the National Stock Exchange's Nifty is down by 144.05 points, which is 1.37 percent, at 10,344.40 points.
On Monday, the Sensex and Nifty had fallen off from Dhadam. The Sensex lost 714 points, or two per cent, to 34,959.72, and the Nifty was down 205.25 points, or 1.92 per cent to close at 10,488.45. According to the brokers, apart from Patel's resignation, the market sentiment was affected by the results of the assembly elections in five states, which affected the sentiment of investors. Due to rising crude oil prices, Patel's resignation and global business tension, the rupee has fallen 110 paise to 72.42 against the dollar.