Sensex down 160pts; ICICI plunges 9%

The Sensex opened with a negative gap of 85 points at 13,823, and then tumbled to a low of 13,700.

The index is now down 160 points at 13,749.

ICICI Bank has plunged nearly 9% (Rs 82) to Rs 852 on fears of equity dilution following the bank's plan to raise fresh capital to the extent of Rs 20,000 crore in June.

Dr.Reddy's and HDFC Bank have tumbled over 2.5% each to Rs 693 and Rs 991, respectively.

HDFC, SBI and Hero Honda have slipped over 2% each to Rs 1,650, Rs 1,076 and Rs 655, respectively.

Larsen & Toubro and ITC are down around 1.5% each at Rs 1,655 and Rs 158, respectively.

Infosys has advanced 1.5% to Rs 2,037. Satyam is up nearly 1% at Rs 471.