The Sensex opened with a negative gap of 238 points 11,245, and is now down 339 points at 11,144.
Tata Steel has slumped 6% to Rs 287. Reliance Communications has tumbled 4.8% to Rs 256.
Sterlite has plunged 4% to Rs 312. Satyam, Infosys and Jaiprakash Associates have slipped nearly 4% each to Rs 278, Rs 1,345 and Rs 82, respectively.
Hindalco and Grasim have dropped over 3% each to Rs 82 and Rs 1,454, respectively.
Ranbaxy has moved up 1.6% to Rs 285, and Tata Motors has added 1% to Rs 302.