At 10.37 hrs IST, the Sensex is down 485.97 points or 3.04% at 15489.55, and the Nifty down 121.70 points or 2.55% at 4649.90.
About 421 shares have advanced, 2566 shares declined, and 61 shares are unchanged. L&T might book hedging losses in UAE arm has taken the stock down over 10% followed by BHEL down nearly 10%. The other laggards are Unitech, Dr Reddy's Labs, Tata Power, Reliance Energy, Siemens, Tata Motors, Wipro, ABB and ICICI Bank.
Among the few gainers were Bharti, JP Associate, M&M, Cairn India and HCL Tech.
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