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Sensex, Nifty End Choppy Session Higher; Financials Lead Gains

Indian shares closed higher on Tuesday, a day after the benchmark 30-share Sensex saw its biggest single-day loss in two months on pre-poll jitters.

Markets opened deep in the red today after RBI Governor Urjit Patel stepped down with immediate effect and assembly election results in five states started trickling in.

As the day progressed, markets bounced off from their day's lows to end the session modestly higher, led by financials and drugmakers.

The benchmark BSE Sensex fell over 500 points in early trade before seeking recovery to end the session up 190.29 points or 0.54 percent at 35,150.01. The broader Nifty index gained 60.70 points or 0.58 percent to end at 10,549.15.

BajajFinserv, Kotak Bank, Asian Paints, Sun Pharma and Yes Bank rallied 3-8 percent while BPCL, HDFC Bank, Bharti Airtel, IOC and HPCL dropped 1-3 percent.

The Indian rupee fell as much as 1.5 percent to a one-month low of 72.46 per dollar, but pared losses later after Finance Secretary A N Jha said the government was likely to make an announcement regarding Urjit Patel's successor as RBI governor later in the day.

Meanwhile, the Congress scored victory in the BJP-ruled states of Rajasthan and Chhattisgarh and was locked in a close fight in Madhya Pradesh. The Telangana Rashtra Samithi (TRS) and the MNF looked set to form governments in Telangana and Mizoram, respectively.

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