The Sensex extended losses and touched a low of 16,839. The index has recovered partially and is now down 48 points at 16,838.
The Nifty is down 19 poinst at 5,000.
The BSE power and auto indices are trading in red and are at 3,042 and 6,630, respectively.
Jaiprakash Associates has plunged 5.5% to Rs 236. Bharti Airtel and Tata Power have dropped 2% each to Rs 419 and Rs 1,291, respectively.
Mahindra & Mahindra and Reliance Infrastructure have slipped 1% each to Rs 875 and Rs 1,230, respectively.
Meanwhile, Sterlite has added 2% to Rs 775. DLF has moved up 1.2% to Rs 435.
The markets breadth is negative. Out of 2,235 stocks traded 1,196 have declined while 960 have advanced.