The Sensex has recovered partially and is now down 92 points at 9,555.
Reliance Infrastructure has slumped 5% to Rs 534. Tata Steel has plunged nearly 4% to Rs 189.
Grasim has shed 3% at Rs 1,375. Ranbaxy has dropped 2.5% to Rs 227.
DLF, Tata Motors and Mahindra & Mahindra have slipped over 2% each to Rs 149, Rs 136 and Rs 278, respectively.
TCS, Reliance and ONGC have also declined 2% each to Rs 514, Rs 1,374 and Rs 703, respectively.
Infosys, Sun Pharma, Wipro, SBI and Larsen & Toubro are down around 1.5% each.
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Jaiprakash Associates has surged over 3% to Rs 77. Maruti has gained 2.7% at Rs 624.
The market breadth is marginally negative - out of 2,287 stocks traded so far, 1,176 have declined, 1,016 have advanced and the rest are unchanged.