The Sensex is now down 258 points at 15,246.
The NSE Nifty is down 61 points at 4,559.
Maruti has plunged 5.7% to Rs 675. Tata Steel has tumbled 5.3% to Rs 610.
ICICI Bank and Jaiprakash Associates have dropped 4.7% each to Rs 734 and Rs 188, respectively.
Infosys has slipped 4% to Rs 1,602. HDFC Bank, HDFC and Tata Power have dropped over 3.5% each to Rs 1,259, Rs 2,477 and Rs 1,040, respectively.
SBI has declined 3.3% to Rs 1,541, and Sterlite is down nearly 3% to Rs 607.
Out of 2,629 stocks traded so far, 1,629 have declined, 915 have advanced and the rest are unchanged.