The Sensex is now down 178 points to 14,467.
ACC has slumped 5.6% to Rs 561.
HDFC, Satyam and Maruti have plunged over 4% each to Rs 2,257, Rs 401 and Rs 614, respectively.
Reliance Communications has shed 3.6% at Rs 397. Bharti Airtel, ITC and Sterlite have tumbled 2.7% each to Rs 785, Rs 183 and Rs 595, respectively.
BHEL has dropped nearly 2% to Rs 1,663. Mahindra & Mahindra, SBI and DLF have declined around 1.5% each to Rs 559, Rs 1,434 and Rs 494, respectively.
Hindalco and Reliance Infrastructure have advanced over 1% each to Rs 131 and Rs 984, respectively.
Out of 2,650 stocks traded so far, 1,673 have declined, 891 have advanced and 86 are unchanged.