The Sensex is now down 349 points at 9,058.
Wipro has slumped 8.5% to Rs 230. SBI has tumbled 8% to Rs 1,119.
Sterlite and Reliance Infrastructure have plunged over 7% each to Rs 253 and Rs 480, respectively.
DLF, Reliance Communications and Tata Steel have dropped around 6% each to Rs 205, Rs 176 and Rs 202, respectively.
BHEL and Ranbaxy have shed around 5.5% each at Rs 1,340 and Rs 207, respectively.
TCS, NTPC and Reliance have slipped around 5% each to Rs 508, Rs 169 and Rs 1,095, respectively.
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Sun Pharma has gained 2.5% at Rs 1,128.
The market breadth is fairly negative - out of 2,420 stocks traded so far, 1,579 have declined, 758 have advanced and the rest are unchanged.