The Sensex is now down 598 points at 11,928.
Sterlite has slumped over 12% to Rs 348.
Jaiprakash Associates, Tata Steel, Tata Power and Reliance Communications have tumbled 10.5% each to Rs 104, Rs 352, Rs 795 and Rs 298, respectively.
DLF has plunged nearly 10% to Rs 303. Reliance Infrastructure has shed 9.6% to Rs 670.
Grasim has dropped 8% to Rs 1,600, and TCS has slipped nearly 8% to Rs 605.
Out of 2,551 stocks traded so far, 2,244 have declined, 270 have advanced and the rest are unchanged.
Updated at 1400 hrs
The Sensex is now down 577 at 11,950.
Sterlite and Jaiprakash Associates have slumped 11% each to Rs 352 and Rs 103, respectively. Tata Power has tumbled 10.7% to Rs 793.
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Tata Steel and Reliance Infrastructure have plunged 9% each to Rs 358 and Rs 674, respectively.
DLF has shed 8.8% at Rs 307. TCS and Reliance Communications have dropped 8% each to Rs 604 and Rs 307, respectively.
Grasim has dropped 7% to Rs 1,634. BHEL and Infosys have slipped over 6.5% each to Rs 1,461 and Rs 1,302, respectively.
Tata Motors and Ranbaxy have declined 4.7% each to Rs 315 and Rs 252, respectively.
Wipro, ICICI Bank and HDFC are down around 4% each at Rs 327, Rs 484 and Rs 2,000, respectively.
Out of 2,510 stocks traded so far, 2,174 have declined, 297 have advanced and the rest are unchanged.