The NSE Nifty is down 114 points at 4,390.
Jaiprakash Associates and Reliance Communications have plunged nearly 5% each to Rs 169 and Rs 501, respectively.
Maruti, TCS and Reliance have dropped over 4% each to Rs 715, Rs 850 and Rs 2,158, respectively.
Ambuja Cements, Cipla, SBI and DLF have tumbled over 3% each to Rs 86, Rs 210, Rs 1,262 and Rs 464, respectively.
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Bharti Airtel and Hindalco are down 2.8% each at Rs 782 and Rs 167, respectively.
ONGC and NTPC have gained around 2% each at Rs 872 and Rs 168, respectively.
The market breadth is fairly negative - out of 2,503 stocks traded so far, 1,925 have declined, 515 have advanced and 63 are unchanged.