The Sensex opened with a negative gap of 272 points at 9,098, and soon tumbled to a low of 8,952. The index is now down 383 points at 8,987.
ICICI Bank and Jaiprakash Associates have tumbled around 8% each to Rs 404 and Rs 65, respectively.
Wipro has plunged nearly 7% to Rs 227. HDFC Bank and Reliance Communications have slumped around 6.5% each to Rs 915 and Rs 174, respectively.
DLF and Tata Steel have shed 6% each at Rs 199 and Rs 201, respectively.
Sterlite and Reliance Infrastructure are down 5.5% each to Rs 258 and Rs 493, respectively.
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