Sensex, Nifty consolidate ahead of RBI policy; SBI declines 3%
SBI tanked more than 3 percent. Morgan Stanley is worried about State Bank of India's bad loan and has reduced target price to Rs 115 per share, implying 36 percent downside. It has also cut earnings per share (EPS) by 28-35 percent. The Sensex declined 35.87 points to 24834.82 and the Nifty fell 7 points to 7556.55. About 1407 shares have advanced, 1236 shares declined, and 152 shares are unchanged on the BSE.
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SBI tanked more than 3 percent. Morgan Stanley is worried about State Bank of India's bad loan and has reduced target price to Rs 115 per share, implying 36 percent downside. It has also cut earnings per share (EPS) by 28-35 percent. The Sensex declined 35.87 points to 24834.82 and the Nifty fell 7 points to 7556.55. About 1407 shares have advanced, 1236 shares declined, and 152 shares are unchanged on the BSE. 
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