Indian equity benchmark indices ended lower for the third consecutive day on Wednesday with Nifty putting an end to an extremely volatile session below 16,100.

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The 30-scrip Sensex closed 303.35 points down or 0.56 percent lower at 53,749.26, and the Nifty closed 99.40 points down or 0.62 percent lower at 16,025.80.

About 696 shares have advanced, 2548 shares declined, and 109 shares are unchanged.

NTPC, HDFC Life, SBI Life Insurance, HDFC and Bharti Airtel were among the top Nifty gainers.

Asian Paints, Adani Ports, Divis Labs, UPL, Tech M, Wipro, TCS, Apollo Hospitals, JSWS Steel, Infosys, Tata Motors, and M&M all fell between 2 percent and 8 percent

The broader markets, meanwhile, bled more with the BSE SmallCap index sliding nearly 3 percent, and the BSE MidCap index falling close to 2 percent.

Amid sectoral indices, Nifty IT lost 3 percent with individual stocks falling up to 7 percent after global brokerage Nomura downgraded the sector due to expected slowdown ahead. Except bank, all other sectoral indices ended in the red with oil & gas, metal, pharma, realty, and capital goods down 1-3 percent.

In the global markets, European stocks moved higher on Wednesday with the pan-European Stoxx 600 adding 0.6 percent in early trade. On Wall Street, futures linked to main indices were flat with a negative bias.