The Sensex is down 405.65 points or 1.4 percent at 27766.04, and the Nifty plunged 131.55 points or 1.6 percent at 8379.25. About 728 shares have advanced, 1449 shares declined, and 123 shares are unchanged.
HUL and Wipro are in green in the Sensex. Vedanta, Tata Motors and Hindalco are down 5-7 percent while Tata Steel and BHEL are other laggards in the Sensex.
Gold prices slipped below Rs 26,000 mark by falling Rs 51 in futures trade on Wednesday after the precious metal plunged to over three-month lows in global market.
Asian shares tumbled to a 1 1/2-year low on Wednesday and the safe-haven yen rallied as Chinese stocks struggled to pull out of a tailspin, shaking investors already rattled by Greece's debt crisis.
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