Hindustan Times : Mar 18, 2020, 10:36 AM
New Delhi: Shortly after opening in green, the domestic equity indices erased gains on Wednesday with BSE Sensex slipping over 500 points and the broader NSE Nifty dropping below 8,900-level.At 10:10 am, the 30-share BSE Sensex traded at 30,174.13 down by 413.92 points in early trade while Nifty slumped 128.75 points to trade at 8838.30.The Yes Bank shares, however, were top gainers on the Nifty 50, jumping nearly 50% and gaining for the fourth straight day, according to news agency Reuters. The moratorium imposed by the Reserve Bank on India (RBI) on Yes Bank will be lifted this evening and the private lender will restore full banking services after 6pm.Of 30 Sensex shares, 28 were in the green in the opening session with Infosys, IndusInd, Sun Pharma as top gainers.Due to a sudden sell-off in the last hour of trade amid the coronavirus-triggered recession fears, Sensex had on Tuesday closed 810.98 points or 2.58% lower at 30,579.09 after gyrating 1,653 points during the day. Similarly, the Nifty too slumped 230.35 points or 2.50% to finish at 8,967.05.In line with positive opening in domestic equities, the Indian rupee appreciated by 32 paise to 73.92 against the US dollar in early trade on Wednesday.Meanwhile, rating agency S&P Global Ratings cut India’s economic growth forecast to 5.2% from 5.7% for 2020.