Amid a massive decline in stock markets due to increased fears of coronavirus fears, NSE's Nifty PSU Bank Index fell over 10 percent to touch an all-time low of 1,470.55 points. All 13 public sector banks on the index were in red on Thursday, with Canara Bank being the biggest loser with over 13 percent drop.
State Bank of India, Bank of India, Punjab National Bank, Indian Bank, Union Bank, Bank of Baroda and Jammu & Kashmir Bank were also trading with over 10 percent losses in share value to touch new 52-week lows. In fact, all the stocks on the index except Bank of Maharashtra touched 52-week lows on Thursday.
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