The Sensex is now down 148 points at 12,976.
TCS and Wipro have plunged 4% each to Rs 1,210 and Rs 563, respectively. Tata Motors has tumbled 3.5% to Rs 727.
Satyam and HDFC have shed around 3% each to Rs 457 and Rs 1,527, respectively. Infosys has slipped 2.4% to Rs 2,007.
Hindalco, HDFC Bank and SBI are down around 2% each to Rs 130, Rs 957 and Rs 994, respectively.
Ranbaxy has surged 3.6% to Rs 340, and Dr.Reddy's has rallied 2.4% to Rs 698.
Tata Steel and BHEL has gained around 1.5% each to Rs 449 and Rs 2,286, respectively.
ONGC and Reliance Energy are up 1% each at Rs 862 and Rs 480, respectively.
Out of 2,578 stocks traded so far, 1,858 have declined, 669 have advanced and 51 are unchanged.