The Sensex is now down 230 points at 11,572.
Sterlite has slumped 9.7% to Rs 303. Larsen & Toubro has plunged over 7% to Rs 1,004.
TCS and Mahindra & Mahindra have tumbled over 6% each to Rs 580 and Rs 471, respectively.
Tata Power has shed 5.8% at Rs 752. Satyam and Wipro have dropped over 5% each to Rs 279 and Rs 303, respectively.
ITC and HDFC Bank have slipped nearly 5% each to Rs 171 and Rs 1,146, respectively.
Reliance Communications is down over 4% to Rs 288.
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Ranbaxy has gained 3% at Rs 254. NTPC, Bharti Airtel and DLF are up over 1% each at Rs 171, Rs 738 and Rs 305, respectively.
Out of 2,540 stocks traded so far, 1,798 have declined, 683 have advanced and the rest are unchanged.