The Sensex touched a low of 8,679, and is now down 93 points at 8,721. Earlier in the day, the index had opened nearly flat at 8,804 - down 10 points, and thereafter, moved up to a high of 8,859.
Jaiprakash Associates has slumped 7.5% to Rs 61, and Mahindra & Mahindra has tumbled over 7% to Rs 267.
Tata Power and Tata Steel have plunged nearly 4% each to Rs 687 and Rs 172, respectively. SBI has shed 3.5% at Rs 1,050.
Larsen & Toubro and Hindustan Unilever have dropped around 3% each to Rs 643 and Rs 246, respectively.
BHEL and DLF have slipped 2.7% each at Rs 1,330 and Rs 160, respectively.
Sun Pharma has declined 2.5% to Rs 1,076. Maruti, Sterlite, Wipro, ICICI Bank and Infosys are down over 2% each.
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Tata Motors has gained 3% at Rs 137. Reliance and ONGC have moved up 1.3% each to Rs 1,149 and Rs 658, respectively.
The market breadth is fairly negative - out of 2,245 stocks traded so far, 1,472 have declined, 674 have advanced and 99 are unchanged.