The Sensex has slipped back to lower levels and is now down 375 points at 8,916.
Wipro has slumped 8.3% to Rs 231. NTPC has tumbled 7.7% to Rs 139.
ICICI Bank has plunged 7% to Rs 360. Sterlite, ACC and Tata Power have slipped nearly 6% each to Rs 214, Rs 412 and Rs 683, respectively.
HDFC and SBI have shed 5.5% each at Rs 1,415 and Rs 1,106, respectively.
Reliance Communications, Satyam and Jaiprakash Associates have dropped over 5% each to Rs 208, Rs 239 and Rs 69, respectively.
TCS Sterlite and Mahindra & Mahindra have declined nearly 5% each to Rs 494 and Rs 304, respectively.
Out of 2,443 stocks traded so far, 1,766 have declined, 599 have advanced and 78 are unchanged.