Indian shares ended sharply lower on Thursday with the Nifty50 settling August series below the 11,000 mark. The Sensex dipped 382 points but the BSE frontline inde was able to hold the 37,000 mark. This is the third time benchmark equity indices have closed the series in the red. Trade sentiment remained tepid as fears of a global recession and worsening US-China trade relations dented risk appetite in equities.

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The Sensex ended 382 points lower at 37,068 while the Nifty50 lost 97 points to end at 10,948. All top five Nifty losers are financials with Yes Bank ending lower for yet another session.

In broader markets, the Nifty Midcap and the Nifty Smallcap fell by almost 1 percent.

Among Nifty sectoral indices, the Nifty Pharma advanced the most by 2.2 percent followed by Nifty Metal at 1.2 percent.

The public sector bank index, the Nifty PSU Bank slipped the most by 2.7 percent. The Nifty Finance Service, Nifty Bank and Nifty Auto were the other lagging sectors.

Sun Pharmaceutical Industries, Bharti Infratel, JSW Steel, Vedanta and Coal India were among the major gainers on the Nifty50, whereas YES Bank, SBI, HDFC, Kotak Bank and Axis Bank led the losses.

Sun Pharma surged 5 percent after the Securities and Exchange Board of India gave the pharma firm a clean chit over a whistle blower complaint in relation to alleged corporate governance issues.

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