The Nifty is down 143 points at 3,950.
Tata Steel has slumped 9.6% to Rs 670. DLF has plunged 8.3% to Rs 389.
Reliance Infrastruture and Reliance Communications have tumbled around 6% each to Rs 743 and Rs 394, respectively.
ITC, ICICI Bank, Grasim and Tata Motors have slipped around 5% each to Rs 171, Rs 592, Rs 1,688 and Rs 394, respectively.
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SBI has surged over 4% to Rs 1,124. ONGC is up over 1% at Rs 865.
Out of 2,620 stocks traded so far, 1,856 have declined, 702 have advanced and the rest are unchanged.