The Sensex has recovered partially from the day's low of 8,763, and is now down 221 points at 8,822.
ICICI Bank has slumped nearly 7% to Rs 337. Reliance Communications has tumbled nearly 5% to Rs 155, and TCS has plunged 4.5% to Rs 467.
Wipro, HDFC and Reliance have shed around 3.5% each at Rs 213, Rs 1,345 and Rs 1,250, respectively.
Reliance Infrastructure, Larsen & Toubro, Sterlite and Tatat Steel have dropped around 3% each to Rs 492, Rs 621, Rs 249 and Rs 167, respectively.
Tata Power and Jaiprakash Associates have slipped 2.8% each to Rs 731 and Rs 67, respectively.
DLF, Infosys and Mahindra & Mahindra have declined around 2.5% each to Rs 152, Rs 1,178 and Rs 283, respectively.
Hindalco, HDFC Bank, Grasim and BHEL are down around 2% each.
The market breadth is very negative - out of 2,384 stocks traded so far, 1,665 have declined, 631 have advanced and the rest are unchanged.
