The Sensex is now down 165 points at 14,953.
The NSE Nifty is down 39 points at 4,485.
Jaiprakash Associates has plunged nearly 4% to Rs 180.
ICICI Bank has dropped 3.5% to Rs 684, and Grasim has tumbled nearly 3% to Rs 2,029.
Satyam, DLF and SBI have slipped around 2.5% each to Rs 406, Rs 541 and Rs 1,487, respectively.
Infosys, Wipro and BHEL have declined around 2% each to Rs 1,683, Rs 440 and Rs 1,740, respectively.
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Reliance Infrastructure has tumbled nearly 2% to Rs 1,005.
ONGC has surged 3.5% to Rs 1,059. Sterlite has gained 2% at Rs 626.
Tata Power and Tata Steel are up over 1% each at Rs 1,063 and Rs 650, respectively.
Out of 2,559 stocks traded so far, 1,453 have declined, 1,023 have advanced and the rest are unchanged.