The Sensex opened with a negative gap of 200 points at 8,901. The index has touched a low of 8,887, and has since recovered partially to 8,978 - down 123 points.
ICICI Bank has slumped 5.3% to Rs 376. Bharti Airtel and Wipro have plunged over 3% each to Rs 595 and Rs 221, respectively.
HDFC and ACC have shed 2.3% each at Rs 1,450 and Rs 474, respectively.
Reliance Infrastructure, NTPC and Tata Steel have dropped 2% each to Rs 541, Rs 182 and Rs 191, respectively.
DLF and HDFC Bank have slipped nearly 2% each to Rs 186 and Rs 895, respectively.