The Sensex is now down 365 points at 13,629.
Ranbaxy has slumped 9.7% to Rs 314. DLF and Wipro have tumbled 5.5% each to Rs 398 and Rs 392, respectively.
TCS, Jaiprakash Associates and HDFC have plunged around 5% each to Rs 726, Rs 123 and Rs 2,213, respectively.
ICICI Bank and Satyam have shed 4.5% each at Rs 607 and Rs 337, respectively.
Tata Steel and Infosys have dropped over 4% each to Rs 473 and Rs 1,559, respectively.
Tata Motors, SBI and HDFC Bank have slipped around 3.5% each to Rs 400, Rs 1,511 and Rs 1,252, respectively.
Out of 2,596 stocks traded so far, 1,803 have declined, 729 have advanced and the rest are unchanged.
