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Markets shrug off BJP loss in Assembly polls, Urjit Patel's sudden exit

Former Economic Affairs Secretary Shaktikanta Das was appointed the RBI governor after the markets had closed for the day

Sensex

The equity markets recouped losses and shrugged off the Bharatiya Janata Party's (BJP's) poor showing in the state elections on Tuesday. Reserve Bank of India (RBI) Governor Urjit Patel's resignation on Monday also failed to affect Street sentiment.  During the market hours, the BJP looked set to lose power in Madhya Pradesh, Chhattisgarh and Rajasthan, putting a question mark on the party’s prospects in the upcoming general elections next year.  As anticipated, the benchmark indices opened with a gap-down, reacting negatively to the news of ...