9.19 AM: It’s a gap-down start to the market on Tuesday morning

It’s a gap-down start to the market on Tuesday morning as investors turned wary of a shock resignation by RBI Governor Urjit Patel. Additionally, uncertainty around results to state elections added to their woes.

The Sensex is down 482.68 points or 1.38% at 34477.04, while the Nifty is lower by 116.70 points or 1.11% at 10371.80. The market breadth is negative as 90 shares advanced, against a decline of 418 shares, while 16 shares were unchanged.

Among sectors, banks, automobiles, energy, consumption, and metals are the top losers. The Nifty Midcap index is down over a percent as well.

Infosys and Tech Mahindra are the top gainers, while IndusInd Banks, Adani Ports, and Reliance Industries lost the most.

 

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