The Sensex has recovered most of its losses and is now down 23 points at 8,880. The index had touched a low of 8,788 in early trades this morning.
Ranbaxy has slumped 17% to Rs 172. ICICI Bank has plunged nearly 5% to Rs 324.
DLF and HDFC have tumbled over 3% each to Rs 150 and Rs 1,216, respectively.
HDFC Bank, Tata Power and Hindalco are down over 1% each at Rs 854, Rs 736 and Rs 40, respectively.
Tata Motors has rallied nearly 3% to Rs 144, and Mahindra & Mahindra has surged nearly 2% to Rs 324.
TCS, Sterlite, Reliance Communications (RCom) and Grasim have advanced around 1.5% each to Rs 487, Rs 251, Rs 157 and Rs 1,427, respectively.
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