Indian shares ended lower on Friday, extending losses for eighth straight sessions dragged by IT and metal stocks. Weakness in broader Asian markets amid Sino-US trade tensions also kept investors on the edge.

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Asian shares hovered near two-month lows as US President Donald Trump’s tariff increase on $200 billion worth of Chinese goods took effect, escalating tensions between the world’s biggest economies.

The White House said the two sides would resume negotiations on Friday morning in Washington after concluding the first of two days of talks on Thursday, and try to rescue the trade deal that is close to collapsing.

The Sensex settled 96 points lower at 37,463, while the Nifty50 lost 23 points to end at 11,279. The broader markets, however, outperformed the benchmark indices with Nifty Midcap and Nifty Smallcap ending almost half a percent higher. Both the indices fell nearly 4 percent for the week.

Tata Steel tanked 6 percent after deal with ThyssenKrupp fell through. ThyssenKrupp said that it expects the joint venture with Tata Steel to fail due to the EU Commission's continuing concerns.

HCL Tech, YES Bank, IndusInd Bank, IOC, and ONGC were the other top losers on Nifty. Meanwhile, Zee, SBI, Bharti Airtel, Titan, and Indiabulls Housing were top gainers.

The sectoral trend remained mixed during the day with Nifty PSU Bank gaining over 2 percent, while Nifty IT and Nifty Metal lost 1.2 percent and 1.7 percent, respectively.

IT services firm HCL Technologies shed 4.5 percent after the company's margins performance disappointed Street in Q4. HCL Tech's Q4 net profit rose 14.3 percent year-over-year and Q4 revenue advanced 21.3 percent.

SBI gained 2.5 percent after its net profit for the fourth quarter ended March 31, 2019, stood at Rs 838.4 crore as against the loss of Rs 7,718 crore in the corresponding period last year.

Shares of PNB Housing surged more than 13 percent after the non-bank lender posted strong March quarter results on Thursday.

Among gainers, Jet Airways gained 3 percent on hopes of a new savior for the ailing carrier after a report said London-based Adi Partners has put in a bid for Jet.