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India's Nifty 50 drops most in a month as automakers slide

BENGALURU (Reuters) -India's blue-chip Nifty 50 index fell the most in a month on Tuesday as investors dumped high-flying automakers, IT firms and metal producers in a rout triggered by worries over faster tightening of monetary policy globally. The NSE Nifty 50 index slid 1.07% to 18,113.05 and the S&P BSE Sensex fell 0.9% to 60,754.86 after touching near three-month highs earlier in the session. "The expectation is of a strong rebound in economic activity and underlying earnings (in India), but at the same time there are concerns around input cost increases, wage costs and interest rates," said Rajeev Thakkar, chief investment officer at PPFAS Mutual Fund.