On domestic front, Prime Minister Narendra Modi, along with leaders of G20 nations, will hold a virtual summit via video conferencing today, to work out a global plan to contain the highly contagious outbreak.
The Nifty Private Bank surges 787 points or 8% at 10,562 in the morning trade. IndusInd Bank zoomed 20% and Bandhan Bank also soared 20%.
Axis Bank, RBL Bank and City Union Bank were up 10% each, followed by ICICI Bank and Federal Bank climbed 8% each, IDFC First Bank gained 5% and HDFC Bank and Kotak Bank up 2-4%, respectively.
Globally, there are over 4.7 lakh confirmed cases and 21,283 deaths from the coronavirus outbreak. Of these, over 1.1 lakh have recovered globally.
In India, the number of infected cases has increased to 606, with 43 recovered cases and the death toll has risen to 12 till Wednesday.