The Sensex has recovered partially from the day's low of 13,431, and is now down 108 points at 13,584.
Wipro has slumped 4% to Rs 356, and Ranbaxy has tumbled 3.7% to Rs 299.
Bharti Airtel, Hindalco and Satyam have plunged over 2.5% each to Rs 788, Rs 106 and Rs 325, respectively.
ICICI Bank and TCS have dropped over 2% each to Rs 587 and Rs 699, respectively.
ITC, Reliance and BHEL are down 1.5% each at Rs 190, Rs 2,018 and Rs 1,640, respectively.
The market breadth is still fairly negative - out of 2,588 stocks traded so far, 1,627 have declined, 873 have advanced and 86 are unchanged.