Sensex drops 500 points, Nifty below 10,400 mark

Mumbai:The S&P BSE Sensex slid around 500 points on Tuesday morning after the Congress party started to take the lead in the Assembly elections in three key states of Rajasthan, Madhya Pradesh and Chhattisgarh.

Accordingly, at 9.35 a.m., the Sensex traded at 34,459.72 points, lower by 500 points or 1.43 per cent from the previous close.

The Nifty50 on the National Stock Exchange traded at 10,344.40 points, lower by 144.05 points or 1.37 per cent from the previous close. 

Initially, the key stock exchanges had a gap-down opening as investors were spooked on the surprise resignation of RBI Governor Urjit Patel on Monday evening.