The cases in China are seen as increasing after the end of the zero-covid policy.
The share prices of diagnostic firms once again came into the limelight in response to the COVID situation. Investors see growth in these companies amid the COVID concern.
Dr. PathLabs’s shares have gone up by 6%. Vijaya Diagnostic and Metropolis Healthcare Ltd. both saw a 3 percent increase as well.Speaking about broader markets, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, The near-term market construct is not favourable for equities. The rising COVID cases in the US, Korea, Brazil, and China are an area of concern. The situation is dire in China. This might impact market sentiments. Moreover, there are no near-term triggers to take the market higher. The next round of triggers will come only in January, starting with the Infy and HCL Tech results starting on January 12th.The stock market also saw an increase in the share price of hospital chains like Appolo Hospital.
Dr. Sangeeta Reddy, MD of Appolo Hospitals, cautioned the government to act swiftly regarding India’s policy for air travel.
The Indian Central Government, in response to the alarming situation, issued an advisory to all the states and UTs.
The Center ensures that the states and UTs send the samples of COVID patients to the genome sequencing laboratories on a daily basis. What are your thoughts on the China situation?
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