The Sensex slipped to a low of 16,702 and is now at 16,739, down 126 points.
The NSE Nifty is at 4,958, down 44 points.
The BSE TECk and the realty indices lead the fall, down 2.5% each.
ITC and Hindustan Unilver have advanced over 2% each to Rs 243 and Rs 272, respectively.
TCS, Hindalco and Sterlite have added over 1.5% each.
Reliance Communication is the major dragger, down 11% at Rs 268. Bharti Airtel has plunged 9% to Rs 363.
Tata Motors, DLF, Jaiprakash Associates and SBI are prominent losers so far on the BSE, down 1-3% each.
The market breadth is extremely negative, out of 2,277 shares traded, 1,626 declined and 598 advanced so far on the BSE.
