The Sensex is now down 175 points at 9,250. Earlier in the day, the index opened 60 points lower at 9,364, and slumped to a low of 9,192.
DLF has slumped nearly 10% to Rs 160. Jaiprakash Associates, Wipro and HDFC have plunged around 4% each to Rs 73, Rs 222 and Rs 1,475, respectively.
Tata Steel and Sterlite have shed 3.8% each at Rs 178 and Rs 266, respectively. Bharti Airtel has dropped 3.5% to Rs 612.
ONGC has slipped over 3% at Rs 637. ICICI Bank, SBI and Tata Motors have declined 2.7% each to Rs 405, Rs 1,121 and Rs 146, respectively.
TCS, Reliance Infrastructure, Hindalco and Sun Pharma are down around 2.5% each at Rs 499, Rs 568, Rs 48 and Rs 1,049, respectively.
Maruti, however, has gained 2.5% at Rs 586.
The market breadth is marginally negative - out of 2,033 stocks traded so far, 1,019 have declined, 931 have advanced and the rest are unchanged.