The Sensex is now down 435 points at 9,614. Banking, realty and metal stocks continue to remain the major draggers on the index.
The BSE Bankex has slumped 7.5% to 4,468. The Metal index has plunged 7% to 6,110, and the Realty index has shed 6.7% at 1,525.
Jaiprakash Associates and ICICI Bank have slumped nearly 11% each to Rs 80 and Rs 344, respectively.
Sterlite, Tata Steel and Reliance Infrastructure have tumbled around 9.5% each to Rs 337, Rs 202 and Rs 514, respectively.
HDFC, Hindalco, TCS and Reliance Communications have plunged around 7.5% each to Rs 1,466, Rs 51, Rs 531 and Rs 170, respectively.
SBI and DLF have dropped over 7% each to Rs 1,045 and Rs 170, respectively.
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Tata Motors has slipped 5.5% to Rs 179. HDFC Bank has declined nearly 5% to Rs 948.
BHEL, Wipro and Grasim are the other major losers.
Sun Pharma has rallied nearly 2% to Rs 1,100. NTPC has moved up 1.3% to Rs 184.
The market breadth is negative - out of 2,326 stocks traded, 1,409 have declined, 839 have advanced and 78 are unchanged.