The Sensex is now down 467 points at 12,635.
Jaiprakash Associates has slumped 12% to Rs 107. ICICI Bank has plunged 9% to Rs 510.
DLF has tumbled 7.5% to Rs 342. Satyam has shed 6.5% at Rs 301, and Tata Motors has dropped 5.5% to Rs 353.
SBI has slipped 4.8% to Rs 1,365. TCS and Reliance Communications have declined 4.3% each to Rs 646 and Rs 332, respectively.
Reliance Infrastructure has dropped 4.3% to Rs 813. HDFC and Larsen & Toubro have declined 4% each to Rs 2,007 and Rs 2,368, respectively.
Ranbaxy and HDFC Bank are down 3.8% each at Rs 262 and Rs 1,199, respectively.
Hindustan Unilever is up 1.4% at Rs 256.
The market breadth is extremely negative - out of 2,439 stocks traded so far, 2,123 have declined, 277 have advanced and the rest are unchanged.
