Sensex down 248pts in early trades

The Sensex opened with a negative gap of 219 points at 17,516. The index is now down 248 points at 17,487.

ICICI Bank has plunged 2% to Rs 1,120.

Ranbaxy and Reliance Energy have slipped nearly 2% each to Rs 408 and Rs 1,567, respectively.

Reliance, Satyam and DLF have shed 1.7% each at Rs 2,458, Rs 450 and Rs 822, respectively.

BHEL and SBI have dropped 1.5% each to Rs 2,060 and Rs 2,146, respectively.