Sensex, Nifty falls 0.9% each, Equities settle low

The Sensex closed at 56,819 points, down 0.9% or 537 points, while the Nifty closed at 17,038 points, down 0.9% or 162 points.

Digital Desk: On Wednesday, Indian equities indices fell and concluded in the red.

The Sensex closed at 56,819 points, down 0.9% or 537 points, while the Nifty closed at 17,038 points, down 0.9% or 162 points.

"The market remained engulfed in high volatility following a significant selloff in global markets fueled by an escalating energy crisis and a negative Chinese economic outlook bolstered by expectations of US rate hikes," said Vinod Nair, Head of Research at Geojit Financial Services.

Investors are assessing the possibility of a worldwide slowdown due to the central bank's tight monetary policy, China's lockdown, and the Russia-Ukraine conflict. 

"As a result, funds have been flowing out of equities markets into safe-havens," Nair stated.

The top five losers among the Nifty 50 companies were Bajaj Finserv, Bajaj Finance, Tata Consumers, Shree Cements, and Adani Ports.