Markets post sharp fall; RBI governor's exit, assembly poll outcome weigh on markets

Sensex and Nifty both opened nearly 1 percent down.

New Delhi: Markets opened sharply in the red amidst several domestic developments backed by RBI Governor Urjit Patel's resignation and the assembly poll outcome with the Sensex and Nifty both opening nearly 1 percent down.

The BSE Sensex tanked 460.78 points or 1.32 percent to 34,498.94 in early trade while the NSE Nifty fell 145.50 points or 1.39 percent to 10,342.95 in early trade.

The ongoing Sino-U.S. trade battle weighed on Asian indices. MSCI`s broadest index of Asia-Pacific shares outside Japan skidding more than 16 percent so far this year. It had surged 33.5 percent in 2017, a Reuters report said.

Australian shares gained 0.6 percent while Japan`s Nikkei lifted 0.2 percent. Overnight on Wall Street, major indexes bounced modestly from an initial drop due in part to a recovery in Apple shares . The Dow added 0.1 percent, the S&P 500 gained 0.2 percent and the Nasdaq climbed 0.7 percent.

With Agency Inputs