The Sensex is now down 172 points at 14,773.
Sterlite and Tata Motors have plunged over 4% each to Rs 596 and Rs 418, respectively.
ICICI Bank has shed 2% at Rs 707. BHEL, Mahindra & Mahindra and Tata Power have slipped 1.8% each to Rs 1,757, Rs 580 and Rs 1,082, respectively.
Reliance and DLF have dropped around 1.5% each to Rs 2,097 and Rs 505, respectively.
Jaiprakash Associates, Satyam and TCS are down 1.3% each at Rs 171, Rs 423 and Rs 844, respectively.