The Sensex has recovered marginally from the day's low of 8,951, and is now down 310 points at 9,061.
ICICI Bank has slumped 8% to Rs 406. Jaiprakash Associates has tumbled over 7% to Rs 65, and Tata Steel has plunged over 6% to Rs 200.
HDFC Bank, Reliance Communications and Sterlite have shed 5.7% each at Rs 921, Rs 175 and Rs 258, respectively.
TCS has dropped 5.5% to Rs 509. Infosys and Tata Motors have plunged over 5% each to Rs 1,237 and Rs 148, respectively.
Wipro, DLF and Reliance Infrastructure have slipped around 4.5% each to Rs 233, Rs 202 and Rs 500, respectively.
SBI and Hindalco are down 3.8% each at Rs 1,154 and Rs 49, respectively.
The market breadth is fairly negative - out of 2,200 stocks traded so far, 1,529 have declined, 597 have advanced and 74 are unchanged.