Bombay stocks plunged again Monday, dropping 4.2% after earlier being down as much as 10%.

The BSE Sensex fell 457 to close at 10,482. After rising sharply for weeks, the index has now dropped 14% off its May 11 all-time high.

Metal stocks were hammered, with Tata Metals off 20%, Hindustan Zinc down 16% and Hindalco lower by 5%.

Leading the late-day rebound were Cipla, up 1.8%, Satyam up 1.2%, Reliance Energy, up 0.6%, and Ranbaxy, up 0.4%.

Other losers on the BSE Sensex were Wipro ( WIT) and Tata Motors ( TTM), off 10%, and Grasim, down by 8.7%.

This story was created through a joint venture between TheStreet.com and IRIS.