The Sensex erased early sharp gains to close lower by 131 points on Friday, snapping its three-day rising streak as concerns over an impending recession heightened. This after the RBI said the projected annual growth was at risk due to the COVID-19 outbreak. After opening significantly higher, the BSE gave up all the gains to end 131.18 points lower at 29,815. On the other hand, the Nifty closed 18.80 points higher at 8,660. Bajaj Finance was the biggest loser in the Sensex pack, followed by Hero MotoCorp, IndusInd Bank, Maruti and HCL Tech. Axis Bank, ITC, NTPC and M&M were among the top gainers.