The Sensex is now down 105 points at 14,619.
Grasim has slumped over 5% to Rs 1,950. Mahindra & Mahindra has plunged 4.4% to Rs 557.
Hindalco has slipped over 3% to Rs 132. Reliance Communications, ACC and Maruti have shed 2.5% each at Rs 413, Rs 595 and Rs 635, respectively.
Tata Motors, Ranbaxy and Reliance have dropped over 2% each to Rs 423, Rs 489 and Rs 2,226, respectively.
HDFC has surged over 3% to Rs 2,360. HDFC Bank has rallied 2.8% to Rs 1,208.
Satyam has gained 2% at Rs 421. TCS has moved up 1.5% to Rs 844. Wipro and Infosys are up 1% each at Rs 433 and Rs 1,709, respectively.
Out of 2,527 stocks traded so far, 1,477 have declined, 962 have advanced and 88 are unchanged.
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