The Sensex has recovered partially and is now at 11,913, down 106 points.
The Bankex is down 2% at 6,071.
Tata Motors and Bharti Airtel have dropped 3% each to Rs 260 and Rs 773, respectively.
ICICI Bank has slipped over 2.5% to Rs 535. Sterlite and Wipro are down over 1.5% each to Rs 465 and Rs 369, respectively.
DLF and Mahindra & Mahindra have advanced 2% each to Rs 238 and Rs 521, respectively.
The market breadth is fairly negative. Out of 2,041 share traded, 1,112 have declined, 855 have advanced and 74 are unchanged.