The Sensex is now down 347 points at 8,944.
NTPC and Wipro have slumped over 7.5% each to Rs 140 and Rs 233, respectively. ICICI Bank has plunged 6.7% to Rs 361.
TCS and Mahindra & Mahindra have tumbled 6% each to Rs 487 and Rs 300, respectively.
Tata Power and ACC have shed 5.7% each at Rs 683 and Rs 412, respectively.
Bharti Airtel and SBI have slipped 5% each to Rs 632 and Rs 1,111, respectively.
Jaiprakash Assocaites and SBI have dropped 4.7% each to Rs 69 and Rs 1,427, respectively.
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Satyam and ONGC have declined 4.3% each to Rs 241 and Rs 670, respectively.
Infosys, Maruti and Reliance Communications were down around 4% each at Rs 1,184, Rs 529 and Rs 211, respectively.
Out of 2,496 stocks traded so far, 1,803 have declined, 618 have advanced and 75 are unchanged.