Sensex drops 261pts; ICICI plunges 5%

The Sensex continues to slide and is now down 261 points at 13,760.

Grasim has plunged 5.6% to Rs 2,280. ICICI Bank has tumbled nearly 5% to Rs 902. Ranbaxy has slipped nearly 4% to Rs 354.

ACC, Bharti Airtel, Wipro and Dr.Reddy's have dropped over 3.5% each to Rs 927, Rs 772, Rs 630 and Rs 686, respectively.

Gujarat Ambuja and ITC are down 3% each to Rs 123 and Rs 169, respectively.

Tata Steel has moved up 1.7% to Rs 464.

Out of 2,539 stocks traded so far, 2,069 have declined, 427 have advanced and 43 are unchanged.