Sensex up 50pts; ICICI Bank down 2%

The Sensex opened with a positive gap of 175 points at 17,524. The index is now up 50 points at 17,399.

The NSE Nifty is up 23 points at 5,134.

Tata Motors and Grasim have advanced 1.5% each to Rs 705 and Rs 2,835, respectively.

Reliance Energy has gained 1.3% at Rs 1,576. Cipla, NTPC and HDFC have advanced 1% each to Rs 201, Rs 200 and Rs 2,600, respectively.

ONGC and Hindustan Unilever are also up 1% each at Rs 1,008 and Rs 218, respectively.

ICICI Bank has shed 1.8% at Rs 1,080.