Indian benchmark indices ended lower on Friday dragged by auto, banking and pharma stocks, as global sentiment remained negative. Uncertainty around the US-China trade negotiations and rising oil prices outweighed investor euphoria around the US Federal Reserve’s hints at future rate cuts.

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The Sensex ended 407 points lower at 39,194, while the broader Nifty50 index lost 108 points to end at 11,724. Broader markets outperformed benchmark indices with the Nifty Midcap and the Nifty Smallcap indices don 0.1 percent and 0.2 percent, respectively.

UPL, Hindalco, Indiabulls Housing, SBI and Tech Mahindra were among the top gainers on the Nifty50, whereas Yes Bank, Maruti, HDFC, HUL and HeroMoto Corp led the losses.

All sectoral indices, except the Nifty PSU Bank, ended the day in the red. The Nifty Pharma fell the most, down 1.5 percent followed by the Nifty Media (down 1.4 percent), the Nifty Auto (down 1.2 percent) and the Nifty Fin Services (down 0.8 percent). The Nifty Bank, the Nifty FMCG and the Nifty Realty also fell during the day.

Maruti Suzuki fell 3 percent after UBS downgraded the stock to 'sell' from 'buy'. It added that the company is unlikely to benefit from BS-VI norms.

Shares of Lakshmi Vilas Bank and Indiabulls Housing Finance rose 10 percent and 1.7 percent respectively, after the Competition Commission of India (CCI) approved the proposed merger between the two financial institutions.

Shares of Aurobindo Pharma declined 3.7 percent after the company received a warning letter from the US Food and Drug Administration relating to Unit XI, API manufacturing facility situated at Srikakulam District, Andhra Pradesh

Globally, world stocks fell on worries about a US military strike against Iran and global trade conflict. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.15 percent. The Shanghai Composite Index rose 0.5 percent, Australian stocks declined 0.6 percent and Japan’s Nikkei shed 0.8 percent.