The Sensex is now down 184 points at 8,770.
ACC, Grasim and Reliance Infrastructure have slumped 5% each to Rs 532, Rs 1,386 and Rs 484, respectively.
Maruti has shed 4.8% at Rs 663. ONGC and Wipro have plunged over 4.5% each to Rs 682 and Rs 206, respectively.
Mahindra & Mahindra and Sterlite have tumbled 4% each to Rs 308 and Rs 243, respectively.
Ranbaxy and Reliance Communications have dropped 3.4% each to Rs 164 and Rs 153, respectively.
Tata Steel and Bharti Airtel have slipped 3.5% each to Rs 158 and Rs 630, respectively.
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TCS and ICICI Bank have declined 3% each to Rs 467 and Rs 315, respectively.
Reliance and Jaiprakash Associates are down nearly 3% each at Rs 1,254 and Rs 66, respectively.
HDFC, however, has surged 3.3% to Rs 1,252.
The market breadth is fairly negative - out of 2,256 stocks traded, 1,360 declined, 792 advanced and the rest were unchanged.