Sensex plunges 3,100 pts as coronavirus a pandemic now.

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Mumbai, March 12, 2020: Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks Sensex and Nifty crashed on Thursday as the World Health Organisation (WHO) declared coronavirus outbreak a global pandemic. S&P BSE Sensex was trading over 3,084 points or 8.64 per cent lower at 32,612, while the Nifty 50 index was ruling at 9,575, down 883 points or 8.45 per cent. All 30 Sensex stocks were trading in deep sea of red. SBI, ITC, Axis Bank, ONGC were down in the range of 11-15%. All 11 Nifty sectoral indices opened in red with Nifty PSU Bank index falling over 7.5 per cent dragged by Canara Bank, Punjab national Bank and J&K Bank. Similarly, Nifty Metal index too slipped 7 per cent weighed by weakness in Welspun Corp, Jindal Steel and Vedanta.

Finance Minister Nirmala Sitharaman will hold meeting with chief executives of amalgamating banks on Thursday to review preparedness for the merger beginning April 1. Earlier this month, the Union Cabinet headed by Prime Minister Narendra Modi approved consolidation of 10 state-owned banks into four. According to sources, the finance minister will review planning and preparedness of merging banks on March 12.