Reuters Market Eye - The benchmark BSE Sensex is down more than 213 points, while the broader Nifty is 62 points lower.
Sesa Sterlite Ltd is down 3.1 percent, while Tata Motors Ltd falls 4.5 percent on continued weakness after earnings.
Canara Bank gains 1.4 percent after earnings showed asset quality rose on a quarter-on-quarter basis.
The September industrial output and October CPI data due after market hours. CPI will be particularly watched as the Reserve Bank of India is putting higher weight on the index while making monetary policy decisions.
(Reporting by Subhadip Sircar)