The Sensex is now down 234 points at 13,313.
Ranbaxy has slumped 5.5% to Rs 280. Tata Motors and ICICI Bank have plunged over 3.5% each to Rs 370 and Rs 575, respectively.
HDFC, Tata Steel, ONGC and BHEL have tumbled over 3% each to Rs 2,097, Rs 470, Rs 1,039 and Rs 1,584, respectively.
HDFC Bank and Stertlite have shed 2.7% each at Rs 1,263 and Rs 465, respectively.
Reliance Communications, TCS, SBI and Mahindra & Mahindra have dropped around 2.5% each to Rs 356, Rs 673, Rs 1,458 and Rs 546, respectively.
DLF, Larsen & Toubro and Hindalco are down over 2% each to Rs 381, Rs 2,511 and Rs 102, respectively.
Jaiprakash Associates has gained 1.4% at Rs 125, and Hindustan Unilever has advanced 1% to Rs 252.
Out of 2,314 stocks traded so far, 1,642 have declined, 590 have advanced and 62 are unchanged.