March 20, 2013 / 10:10 IST
Moneycontrol Bureau
India continues to underperform following a combination of events at home and around the globe. The passing of the food security bill amid a serious political crisis, sparked by the pull out of DMK, an UPA ally, have hardly soothed investor nerves.
The 30-share BSE benchmark Sensex quickly slipped into the red after opening in green. At 09.16 AM, the Sensex fell 26.64 points at 18981.46, and the Nifty slipped 4.75 points at 5741.20. The INR opened at 54.53.
Midcaps have opened weak as well. Manappuram fell 10.3 percent after losing big on Tuesday.
Other losers on the Sensex included M&M, L&T and Maruti Suzuki shedding around 1 percent each. Sugar stocks were also quickly losing investors' confidence as the cabinet panel has deferred decision on sugar decontrol. Balrampur Chini, Shree Renuka and Bajaj Hindusthan were down over 2.2 percent each.
Biggest gainers on the Sensex were Cipla, HDFC, HUL, TCS and ITC.
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