The only Indian woman in the field, Diksha Dagar missed the cut with 75-73.
Sharma was cruising well at three-under through the first eight holes with four birdies against one lone bogey. Then he hit his tee shot into the water on the Par-4 13th and also went into deep rough.
He finally ended with a triple bogey. A birdie on the next hole, Par-3 14th was a small consolation as he carded 71. He was 7-under for three rounds and Tied-26th.
Sweden’s Sebastian Soderberg maintained his incredible form with a round of 66 (-6). He has led from round one, once again picked up where he left off with back-to-back birdies on holes two and three. He birdied the sixth before and the eighth to make the turn in four-under.
He birdied the 12 and the 13. His first bogey of the week followed on the 14th but he rectified that with a birdie on 15. He is 21-under-par and held an eight-shot advantage.
Scotland’s Calum Hill sits in outright second place after producing a round of 67 (-5) to be eight shots behind Söderberg on 13-under-par.
The Scandinavian Mixed is co-sanctioned by the DP World Tour and Ladies European Tour, with 78 men and 78 women competing on the same course for one prize fund and one trophy.