MARKET CLOSING UPDATES: Following the trend of their international peers, India's key stock indices Sensex and Nifty declined on Wednesday as investors worried about Russia's escalation of the crisis in Ukraine.

The NSE Nifty closed at 17,718,  with a decrease of 98 points or 0.55 percent, while the 30-share BSE Sensex fell 262 points or 0.44 percent to close at 59,456.

The Nifty Metal index had the worst day in a month, falling 2.1 percent, making it the worst performance among the sub-indices.

Adani Enterprises, which had reached a record high in the previous session, saw its lowest session since mid-June with a loss of 5.1 percent. With a 5.2 percent decline, Shree Cement experienced its worst percentage decline on the Nifty 50 since late February.

The Nifty FMGC (fast-moving consumer goods) index gained 1.2 percent, driven by a nearly 3 percent increase in FMCG giant Britannia Industries.

Following an RBI decision to remove the state-owned institution off its list of urgent corrective actions, shares of Central Bank of India surged by 6.6 percent, after rising as much as 15 percent during the session.

In expectation of the Federal Reserve's widely anticipated interest rate hike, investors continued to be concerned about the weakening economy on Wednesday, which led to a decline in all Asian markets.

Oil and gold prices shot up in response to Russian President Vladimir Putin's order for force mobilisation.

Top Cryptocurrency prices today, September 21

Watch Gold, silver prices on September 20

Adani group's market valuation stands at 260-billion dollars