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Leading after the first round, the 23-year-old world championship bronze medallist Indian lost 1-4 to his second seed Mexican opponent in the quarterfinal at the North Paris Arena.
Nishant had defeated Alvarez in the 2021 World Championships.
Nishant was off to a flyer as Alvarez struggled to match his pace. He used his straight jabs to great effect, landing them square on the Mexican’s face as well as the body to tire his opponent.
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Nishant continued to unleash a range of punches, including a combination of hooks, while Alvarez too upped his game, connecting some vital blows. However, Nishant looked the stronger of the two as he picked the Mexican’s shots.
But the judges favoured the Mexican 3-2 as Alvarez and Nishant entered the final three minutes by the narrowest of margins, leading on one card.
Alvarez landed a combination of punches to start the final round on an aggressive note. The Mexican showed more urgency as he landed an uppercut. The Indian, on the other hand, looked completely spent and while he tried to throw punches he was slow.
Alvarez acknowledged that the bout was a tough one.
“It was a tough bout, played with heart and mind. I hit on his body to open up for upper cuts. I had lost to him in 2021 world Championships. I have a lot of respect for him,” Alvarez said.
“He is very technically sound boxer. My coaches asked me to play smart after I lost the first round.”
Nishant is the fifth Indian boxer to exit the Olympic Games. Tokyo Olympics bronze winner Lovlina Borgohain is the only Indian boxer still in contention.