SBI slips to 2-year low on Moody's downgrade

	Dated:04 October,2011

India needs more fiscal discipline: Andrew Economos, JPMorgan AMC In an interview with ET Now, Andrew Economos, MD, JPMorgan AMC, talks about the European economic situation, Asian equities and the commodity market. Excerpts: Nifty ends below 4775; SBI, Coal India, M&M down The 50-share Nifty index ended in deep red but off day's lows as weak cues from European peers and downgrade of SBI hurt investors' sentiment. Sensex tumbles below 16k mark; ICICI Bank, RIL, SBI down The BSE Sensex witnessed intense selling pressure as sentiments turned bearish after Moody's downgraded financial strength of State Bank of India. Market Round-up SENSEX 15864.86 -286.59 NIFTY 4772.15 -77.35 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change Prakash Constrowell Ltd. 230.00 + 66.67 Paramount Printpackaging 24.10 + 20.20 Gallantt Metal Ltd. 21.00 + 20.00 MVL Industries Ltd. 13.55 + 14.83 Gallantt Ispat Ltd. 112.15 + 13.74 NSE Losers Scrip Price(Rs.) %Change J D Orgochem Ltd. 3.90 -27.78 VTX Industries Ltd. 12.90 -15.41 Cura Technologies Ltd. 120.25 -14.32 Indian Card Clothing Comp 82.55 -11.24 Jubilant Foodworks Ltd. 668.35 -11.23 Views on Stocks/Markets Go short on Orchid Chemicals: CK Narayan Wait and watch for Sintex: Ashwani Gujral Patni Computers is outperforming the market: Mitesh Thacker IPO/Global Markets Dexia bank shares plunge 37% Key Euribor rate reaches high World stocks hit 15 mth low Rupee / Gold Rupee stays weak Gold adds Rs 285 Dollar near 9-month high More 'Market' News SBI slips to 2-year low on Moody's downgrade SBI shares plunged over 4% after Moody's downgraded the country's largest public sector bank's financial strength rating (BFSR), to D+ from C-. Government must take call on ONGC share sale The government must take a call on when it wants to go ahead with a share sale in the state-run Oil & Natural Gas Corp Dexia bank shares plunge more than 37% Shares in Franco-Belgian bank Dexia plunged more than 37 per cent in early trade on Tuesday