The Sensex has slipped back to lower levels, and is now down 214 points at 9,322.
Tata Motors has slumped 8% to Rs 138, and ACC has plunged over 7% to Rs 427.
Mahindra & Mahindra has tanked 6.5% to Rs 320, and HDFC has tumbled over 6% to Rs 1,538.
Tata Steel and Jaiprakash Assocaites have shed 5.5% each at Rs 175 and Rs 73, respectively.
BHEL and Infosys have slipped over 5% each to Rs 1,268 and Rs 1,195, respectively.
Larsen & Toubro has dropped 4.5% to Rs 790. Wipro, Maruti and Sterlite are down around 4% each at Rs 237, Rs 537 and Rs 228, respectively.
Bharti Airtel, however, has gained 1.5% at Rs 641.
The market breadth was fairly negative - out of 2,448 stocks traded so far, 1,505 have declined, 854 have advanced and the rest are unchanged.