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Sensex, Nifty close over 2 per cent lower on sharp sell-off

Consequently, India ‘VIX’, or the volatility index- the market expectation of volatility over the near-term – closed sharply higher. The VIX closed on Tuesday at 18.60, after it had surged nearly 12 per cent in a single session.

Sensex, Nifty close over 2 per cent lower on sharp sell-off

Bombay Stock Exchange (BSE). (File Photo: IANS)

Investor panic over the country’s lower than expected GDP growth figure of 5 per cent in the first quarter ending June, released last week, led the key market indices to decline by over 2 per cent on Tuesday.

Consequently, India ‘VIX’, or the volatility index- the market expectation of volatility over the near-term – closed sharply higher. The VIX closed on Tuesday at 18.60, after it had surged nearly 12 per cent in a single session.

The benchmark Sensex closed 769.88 points, or 2.06 per cent, lower at 36,562.91.

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It opened at 37,181.76, as against its Friday close of 37,332.79.

The broader Nifty closed 247.40 points, or 2.24 per cent, lower at 10,775.85.

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