European stocks were trading lower in their afternoon trade as miners came under pressure. Unwinding of leveraged positions in midcaps and smallcaps also hit market sentiment.
Tensions on the global front escalated after North Korea reportedly said that it was "carefully examining" a plan to strike the US Pacific territory of Guam with missiles.
The 50-share NSE Nifty also dropped by 44.95 points, or 0.45 per cent, to 9,933.60 in early trade on Wednesday (9 August).
Overseas, the Asian market took a breather as disappointing Chinese trade data clouded the otherwise upbeat outlook on global growth.
Responding to SEBI's order, J Kumar Infraprojects, which has a work order size of Rs 9,334.81 crore as on March 31, 2017 clarified that it is not a shell company and the suspicion of the regulator is uncalled for.
Special prosecutor Robert Mueller asks White House for documents on Flynn
Rather, they decide whether probable cause exists that a potential crime has been committed and if charges should be brought. Flynn had received payments secrets on the part of the Turkish government towards the end of the election campaign of 2016.
Counterwise, pharma lost (3.94 per cent), followed by auto (1.73 per cent), media (1.09 per cent), infra (1.08 per cent), private bank (1.05 per cent), bank (0.91 per cent), FMCG (0.80 per cent) and realty (0.50 per cent).
The markets continued to plunge post Sebi asked the exchanges to restrict trading in shares of 331 such companies, some of which have investments by several well-known domestic and foreign investors.
The fundamentals of the Indian economy are continuously improving, which gives greater confidence in the medium to long term potential of Indian equities, he believes.
Aurobindo Pharma declined 2.8 percent ahead of its quarterly results due today.
Index laggards included NTPC, Dr Reddy's, M&M, Tata Motors, Bharti Airtel, Lupin, Cipla, Hindustan Unilever, Asian Paints, Axis Bank, Hero MotoCorp, HDFC Ltd, Reliance Industries, ITC, ONGC and Sun Pharma, falling up to 1.64 per cent.
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