The Sensex is now down 264 points at 13,731.
Ranbaxy has slumped over 10% to Rs 312. Jaiprakash Associates and Wipro have tumbled 4.5% each to Rs 124 and Rs 396, respectively.
DLF, TCS and Satyam have plunged 4.3% each to Rs 403, Rs 733 and Rs 338, respectively.
HDFC has shed 3.8% at Rs 2,239. ICICI Bank and SBI have slipped 3.3% each to Rs 613 and Rs 1,516, respectively.
Tata Motors and Tata Steel have dropped 3% each to Rs 402 and Rs 479, respectively.
Tata Power has moved up 1.7% to Rs 1,038.
Out of 2,543 stocks traded so far, 1,716 have declined, 765 have advanced and the rest are unchanged.