Sensex down 70pts in early trades; ICICI Bank slips 4%

The Sensex opened 12 points higher at 9,397, touched a high of 9,436, and then slipped into the negative zone. The index is now down 70 points at 9,315.

ICICI Bank has plunged 4% to Rs 380. HDFC Bank and HDFC have tumbled over 3% each to Rs 979 and Rs 1,508, respectively.

Jaiprakash Associates and DLF have shed almost 3% each to Rs 71 and Rs 234, respectively.

Reliance Infrastructure has dropped 2.5% to Rs 504. Satyam and Infosys have slipped over 2% each to Rs 256 and Rs 1,192, respectively.

Hindalco and Wipro are down 2% each at Rs 56 and Rs 236, respectively.

ONGC, however, has surged 2.5% to Rs 710.