The NSE Nifty is down 56 points at 5,080.
ITC has slumped nearly 5% to Rs 216.
Satyam, TCS and Infosys have plunged over 3.5% each to Rs 472, Rs 931 and Rs 1,778, respectively. Wipro has shed 2% at Rs 489.
ICICI Bank has dropped 3.5% to Rs 887. Jaiprakash Associates and Larsen & Toubro have tumbled 2.7% each to Rs 267 and Rs 2,907, respectively.
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HDFC Bank and Reliance Energy have declined 2.3% each to Rs 1,507 and Rs 1,404, respectively.
Tata Motors has slipped over 2% to Rs 665.
Bharti Airtel and Reliance Communications are up 1% each at Rs 824 and Rs 546, respectively.
Out of 2,510 stocks traded so far, 1,644 have declined and 810 have advanced and 56 are unchanged.