The Sensex is now down 199 points at 9,971.
Tata Motors has slumped over 11% to Rs 203, and Tata Steel has plunged 10.7% to Rs 219. Hindalco and Sterlite have shed 9.5% each at Rs 55 and Rs 240, respectively.
Maruti and HDFC have tumbled 7.3% each to Rs 602 and Rs 1,766, respectively. Ranbaxy has dropped nearly 6% to Rs 243.
Bharti Airtel has slipped 5.5% to Rs 630. Reliance, ICICI Bank, Reliance Infrastructure and SBI have declined around 4% each to Rs 1,260, Rs 380, Rs 455 and Rs 1,337, respectively.
BHEL has gained 2.3% at Rs 1,166.
TCS has rallied nearly 2% to Rs 557. Infosys, ITC, Wipro and Grasim are down around 1.5% each at Rs 1,322, Rs 174, Rs 284 and Rs 1,178, respectively.
Out of 2,420 stocks traded so far, 1,826 have declined, 529 have advanced and 65 are unchanged.