The Sensex is now down 178 points at 14,767.
Tata Motors has tumbled over 4% to Rs 418.
BHEL and Sterlite have plunged over 2.5% each to Rs 1,743 and Rs 606, respectively.
ICICI Bank has dropped 2% Rs 707. Tata Power, DLF and Reliance have shed 1.7% each at Rs 1,082, Rs 503 and Rs 2,097, respectively.
Satyam, SBI, TCS and Jaiprakash Associates have slipped around 1.5% each to Rs 422, Rs 1,569, Rs 843 and Rs 1,725, respectively.
ACC and Reliance Communications are the notable gainers.