Indian benchmark indices ended lower after three sessions of gains on Thursday, dragged by banking stocks after Yes Bank reported poor numbers for the quarter ending June 2019.

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Meanwhile, broader Asian shares were also under pressure after the Wall Street stocks dropped on signs that the US-China trade war could hurt corporate earnings.

The Sensex ended 318 points lower at 38,897, while the broader Nifty50 index lost 91 points to end at 11,597. In broader markets, the Nifty Midcap and the Nifty Smallcap index fell 1.7 percent and 1.1 percent, respectively.

Wipro, HDFC, Zee, Britannia and HDFC Bank were top gainers on the Nifty50, while Yes Bank, Coal India, ONGC, Tata Motors and Maruti Suzuki led the losses.

All sectoral indices, except the Nifty Media and the Nifty Fin Services, ended lower for the day. The Nifty PSU Bank index lost 3 percent followed by the Nifty Auto which was down 2.7 percent. Meanwhile, the Nifty Metal declined 2.5 percent, the Nifty Bank and Nifty Private Bank indices fell 1 percent each. The Nifty IT and the Nifty Pharma also slipped 1 percent and 1.4 prcent, respectively.

Private-sector lender Yes Bank fell 12.6 percent after the bank reported a bigger-than-expected 91 percent drop in Q1 as provisions surged, prompting brokerages including Jefferies and Nomura to slash their price targets on the stock.

IT firm Mindtree plunged 8 percent after it posted a 41 percent drop in quarterly profit.

CARE Ratings fell nearly 5 percent after the rating agency sent chief executive officer Rajesh Mokashi on leave pending an inquiry.

Punjab & Sind Bank became the third Indian lender to flag a fraud in the account of defaulter Bhushan Power & Steel Ltd, sending its shares 3 percent lower.