The BSE gauge Sensex closed below the key 58,000-level after a highly volatile session on Wednesday, dragged lower mainly by banking, metal and auto shares.
The 30-share benchmark swung nearly 800 points during the session before closing at 57,996.68 -- marking a loss of 145.37 points or 0.25 per cent.
Likewise, the NSE Nifty swung between gains and losses before settling 30.25 points or 0.17 per cent lower at 17,322.20.
On the Sensex chart, NTPC, SBI, UltraTech Cement, ICICI Bank, Tata Steel, Bajaj Finserv and Bjaja Finance were among the major laggards. Of the index constituents, 22 shares closed with losses.
Elsewhere in Asia, bourses closed with significant gains as fears of a Russian invasion of Ukraine dissipated.
Global crude oil benchmark Brent Futures fell 0.19 per cent to USD 93.06 per barrel.
Foreign institutional investors (FIIs) were net sellers in the capital market on Tuesday, as they offloaded shares worth Rs 2,298.76 crore, according to stock exchange data.
Rupee Surges 25 Paise To Close At 75.07 Against US Dollar
The rupee appreciated by 25 paise to close at 75.07 (provisional) against the US dollar on Wednesday, amid signs of de-escalation in the conflict between Russia and Ukraine.
At the interbank forex market, the local unit opened at 75.24 against the greenback and witnessed an intra-day high of 74.96 and a low of 75.24. It finally settled at 75.07, a rise of 25 paise over its previous close.
On Tuesday, the rupee had snapped its five-session losing streak and surged 28 paise to close at 75.32.
US President Joe Biden has said that the US is ready to respond "decisively" to a Russian attack on Ukraine which is still very much a possibility, urging Moscow to step back from the brink of war.
Biden said the US is still open for diplomacy to resolve the issue while stressing that more than 150,000 Russian troops remain on the Ukrainian border.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, fell 0.19 per cent to 95.80.
On the domestic equity market front, the BSE Sensex ended 145.37 points or 0.25 per cent lower at 57,996.68, while the broader NSE Nifty declined 30.25 points or 0.17 per cent to 17,322.20.
Brent crude futures, the global oil benchmark, was trading 0.80 per cent higher at USD 94.03 per barrel.
Foreign institutional investors were net sellers in the capital market on Tuesday, as they offloaded shares worth Rs 2,298.76 crore, as per stock exchange data.