The Sensex is now down 328 points at 9,042, off the day's low of 8,951.
ICICI Bank and Jaiprakash Associates have plunged nearly 8% each to Rs 406 and Rs 65, respectively.
Tata Steel has tumbled over 7% to Rs 198. Sterlite has shed 6.5% at Rs 256.
Tata Motors, HDFC Bank and Reliance Communications have slumped around 6% each to Rs 147, Rs 917 and Rs 174, respectively.
TCS and DLF have dropped 5.8% each to Rs 508 and Rs 200, respectively. Infosys had declined 5.5% to Rs 1,233.
Wipro and Reliance Infrastructure have slipped 5% each to Rs 232 and Rs 496, respectively.
The market breadth is extremely negative - out of 2,132 stocks traded so far, 1,538 have declined, 518 have advanced and the rest are unchanged.
