The Sensex is now down 747 points at 11,779.
Sterlite has slumped 14.5% to Rs 339, and Tata Steel has plunged 13.5% to Rs 341.
Jaiprakash Associates and Reliance Infrastructure have tumbled around 12% each to Rs 102 and Rs 654, respectively.
Reliance Communications and DLF have plunged around 10.5% each to Rs 297 and Rs 302, respectively.
Tata Power has crashed 9.7% to Rs 802. Grasim has crumbled 8.7% to Rs 1,605.
BHEL and TCS have dropped around 7.5% each to Rs 1,449 and Rs 609, respectively. Wipro has shed 6.7% at Rs 318.
Reliance, Infosys and HDFC have slipped around 6% each to Rs 1,651, Rs 1,306 and Rs 1,957, respectively.
Satyam, Larsen & Toubro, Ranbaxy and ONGC are down around 5.5% each.
Out of 2,644 stocks traded so far, 2,368 have declined, 243 have advanced and 33 are unchanged.
