Indian benchmark indices pared morning gains to end flat, but remained in red on Thursday, on the back of selling by overseas investors following disappointing corporate earnings amidst growth worries.

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Meanwhile, broader Asian shares edged up after a tech-fuelled rally on Wall Street, while the euro stayed near two-month lows as soft economic data fuelled hopes the European Central Bank could cut rates at its meeting on Thursday.

The Sensex ended 17 points lower at 37,831, while the broader Nifty50 index lost 19 points to end at 11,252. In broader markets, the Nifty Midcap rose 0.4 percent, while the Nifty Smallcap index added 0.1 percent.

Vedanta, Zee, Cipla, Sun Pharma and IndusInd Bank were top gainers on the Nifty50, while Tata Motors, Bajaj Finance, Bajaj Finserv, Coal India, and JSW Steel led the losses.

Sectoral indices ended mixed for the day. Nifty Pharma index gained the most, up 2.2 percent, followed by Nifty Media, up 1 percent. Nifty Bank and Nifty Pvt Bank indices were up 0.3 percent and 0.4 percent, respectively, while, Nifty IT rose 0.6 percent. Among losers, Nifty PSU Bank and Nifty Metal lost 0.9 percent each and Nifty Auto was down 0.4 percent.

Tata Motors fell 4.8 percent ahead of its Q1 earnings later today.

Shares of ICICI Prudential Life Insurance Company (ICICI Pru) rose 4.2 percent after the company reported 27 percent growth (YoY) in value of new business (VNB) in the June quarter (Q1FY20).

Shriram Transport Finance Company surged 5.4 percent after the company reported an 11 percent rise in June-quarter net profit.

Bajaj Finance fell 4 percent even after it reported a 43 percent increase year-on-year (YoY) in the consolidated net profit. The company's net profit for the June quarter stood at Rs 1,195 crore as against Rs 836 crore in the corresponding quarter last year.

Vodafone Idea slipped below its face value of Rs 10 at Rs 9.70, down 2.7 percent after a government panel on Wednesday approved a combined penalty of Rs 3,050 crore on telecom operators Bharti Airtel and Vodafone Idea for not providing points of interconnection to Reliance Industries' telecom unit Jio.

Cox & Kings declined 4.75 percent after the company defaulted on the commercial papers worth Rs 174 crore.