The Sensex has slipped deeper into red and is now down 323 points at 12,733.
Sterlite has slumped 8% to Rs 395, and Tata Steel has plunged 7% to Rs 408.
ICICI Bank has tumbled over 5% to Rs 523. Reliance Communications, Reliance and Infosys have dropped over 4% each to Rs 329, Rs 1,827 and Rs 1,395, respectively.
Tata Motors has dropped 3.4% to Rs 328. TCS, Satyam and Bharti Airtel have shed around 3% each at Rs 650, Rs 309 and Rs 768, respectively.
Larsen & Toubro, Maruti, Reliance Infrastructure and DLF have slipped over 2% each to Rs 1,186, Rs 682, Rs 764 and Rs 338, respectively.
HDFC has declined 1.8% to Rs 2,165. Grasim and Tata Power are down around 1.5% each at Rs 1,740 and Rs 934, respectively.
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Ranbaxy has soared 6.7% to Rs 269. Mahindra & Mahindra has rallied 2.3% to Rs 518.
ITC has moved up 1.4% to Rs 195.
Out of 2,158 stocks traded so far, 1,308 have declined, 788 have advanced and 62 are unchanged.