The Sensex has recovered partially from the day;s low of 8,619, and is now down 139 points at 8,704.
Tata Steel and HDFC have slumped around 4% each to Rs 161 and Rs 1,302, respectively.
Jaiprakash Associates has shed 3.5% at Rs 65. Reliance Infrastructure has tumbled over 3% to Rs 476.
ICICI Bank and Wipro have dropped around 2.5% each to Rs 327 and Rs 210, respectively.
Reliance, Sterlite and HDFC Bank have slipped 2.3% each to Rs 1,225, Rs 243 and Rs 848, respectively. DLF is down 2% at Rs 152.
Ranbaxy, however, has moved up over 1% to Rs 209.
The market breadth is very negative - out of 2,002 stocks traded so far, 1,406 have declined, 514 have advanced and the rest are unchanged.