The Sensex is now down 241 points at 14,659.
Sterlite has slumped 10.7% to Rs 514. Tata Steel has plunged over 5% to Rs 535.
Reliance Infrastructure has tumbled over 4% to Rs 1,027, and Tata Power has shed 3.5% to Rs 1,048.
ONGC and BHEL have slipped over 3% each to Rs 1,066 and Rs 1,694, respectively.
ICICI Bank and HDFC Bank declined nearly 3% each to Rs 693 and Rs 1,257, respectively.
Reliance is down 2.5% at Rs 2,088.
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ACC, however, is up over 1% to Rs 604.
Out of 2,660 stocks traded so far, 1,729 have declined, 834 have advanced and 97 are unchanged.