The NSE Nifty is down 179 points at 4136.
There are no gainers in the Sensex at present.
Mahindra & Mahindra has declined 7.9% Rs 508. Wipro is down 6.7% to Rs 440. Tata Motors and ICICI Bank have dropped 6.4% each to Rs 454 and Rs 647, respectively.
L&T has lost 6.1% to Rs 2,212. Ambuja Cements and Reliance Infrastructure has dipped 5.7% each to Rs 80 and Rs 881, respectively.
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Jaiprakash Associates, RCom, HDFC Bank, Maruti, HDFC, Bharti Airtel and BHEL are the other losers.