The BSE Sensex plunged over 500 points on Wednesday morning tracking a decline in the Asian markets.
Heavy selling was witnessed in metal, finance, banking and IT stocks.
Around 10.15 a.m., Sensex was trading at 49,536.26, lower by 515.18 points or 1.03 per cent from its previous close of 50,051.44 points.
It opened at 49,786.47 and has touched an intraday high of 49,854.58 and a low of 49,529.23 points.
The Nifty50 on the National Stock Exchange was at 14,657.95, lower by 156.80 points or 1.06 per cent from its previous close.
The major losers on the Sensex were Tata Steel, ONGC and ICICI Bank, while the top gainers were Asian Paints, Sun Pharmaceutical Industries and Power Grid.