Sensex down 61pts; ICICI Bank drops 4%

The Sensex has opened on a flat note - down 11 points at 16,329, and soon slipped to a low of 16,253, rebounded and touched a high of 16,371. The index has now slipped back into the negative zone and is down 61 points at 16,279.

The NSE Nifty is down five points at 4,859.

Satyam has surged over 2% to Rs 415. Tata Steel has gained 1.5% at Rs 790.

Infosys, Grasim and ONGC have moved up 1.3% each to Rs 1,439, Rs 2,836 and Rs 971, respectively.

TCS, NTPC and Cipla are up over 1% each at Rs 863, Rs 192 and Rs 204, respectively.

ICICI Bank has plunged 3.8% to Rs 935. HDFC Bank has slipped 1.4% to Rs 1,338, and HDFC is down over 1% at Rs 2,605.