The Sensex opened with a negative gap of 200 points at 8,901, and soon touched a low of 8,887. The index since then has recovered partially and is now down 83 points at 9,018.
ICICI Bank has slumped 4.5% to Rs 379, and Wipro has shed 3.5% at Rs 220.
Bharti Airtel has dropped 2.6% at Rs 599. HDFC has tumbled over 2% to Rs 1,452.
Reliance Infrastructure and ACC have plunged nearly 2% each to Rs 542 and Rs 476, respectively.
HDFC Bank, Mahindra & Mahindra and Maruti have slipped 1.7% each to Rs 896, Rs 295 and Rs 550, respectively.
Ranbaxy has moved up 1.7% to Rs 218. Hindustan Unilever and ONGC have gained 1.3% each at Rs 250 and Rs 671, respectively.