New Delhi: India’s stock markets fell in early trading hours on Tuesday, with sentiment reflecting market uncertainty in the wake of RBI governor Urjit Patel’s resignation, but recovered most of its losses within a few hours. The benchmark 30-share Sensex was down 500 points in early trading, opening at 34,584.13 and hitting a low of 34,458.56. The Nifty 50 index opened at 10,350.05 and fell 153 points to a low of 10.335.10.However, by 11:30 PM, in intraday trading the Sensex was traded 48.78 points, down at 34,910.94 and Nifty 50 was down 17.60 points, or 0.17%, to 10,470.85.Adding to Monday’s woes, was a sharp drop in the rupee, which has recovered in recent times. On Tuesday, the Indian currency opened 1.6% lower at 72.46 against the dollar. The rupee had fallen by 60 paise on Monday to close at 71.32.“The rupee has depreciated after slew of exit polls predicted BJP is losing election in key states. This is a matter of concern as these state elections are crucial ahead of general election of 2019. The OPEC has decided to cut production by 1.2 million bpd. Hence the crude oil prices may once again move high. RBI governor resignation is going to spook the market,” Rushabh Maru – Research Analyst, Anand Rathi Shares and Stock Brokers, had said in a statement on Monday.This is a developing story and will be updated throughout the day.