Sensex down 1,593pts; breadth -ve at 1:30

The Sensex is now down 1,593 points at 16,012.

The NSE Nifty is down 569 points at 4,640.

Wipro has crashed 21.5% to Rs 345. ITC has slumped 15.5% to Rs 172. ONGC has plunged 14.7% to Rs 950.

Reliance Energy has tanked 13.8% to Rs 1,531. Ranbaxy has shed 12.5% at Rs 318.

Satyam and Tata Steel have dropped around 12% each to Rs 327 and Rs 637, respectively.

Mahindra & Mahindra has slipped 11.5% to Rs 595.

The market breadth is extremely negative with advance decline ratio of 1:30 - i.e for every advancing share there are 30 declining stocks - out of 2,232 stocks traded so far, 2,140 have declined, 71 have advanced and 21 are unchanged.