Thyrocare, Vijaya, other diagnostics shares jump up to 7% amid Covid scar

Diagnostics stocks were in limelight in Thursday's trade amid rising concern of spread of Covid cases globally. Analysts noted Covid situation in China is worsening and that there has been a sudden spurt in Covid cases in USA, Korea, Brazil, and Japan. Diagnostics, being a Covid sensitive sector, thus was buzzing for the second straight day.

At 10.30 am, shares of Thyrocare Technologies were trading 7.33 per cent higher at Rs 751.45. Vijaya Diagnostic Centre was up 5.33 per cent at Rs 501.65. Samsrita Labs jumped 5 per cent while shares of Dr Lalchandani Labs advanced 4 per cent. Krsnaa Diagnostics edged half a per cent higher. Shares of Dr Lal Pathlabs, however, saw profit booking after rising 6.23 per cent in the previous session. This stock was down 1.3 per cent in Thursday's trade. 

A PTI report suggested that  Prime Minister Narendra Modi will review the situation related to Covid-19 in the country at a high-level meeting  in the afternoon today.  The meeting would come a day after Union Health Minister Mansukh Mandaviya reviewed the situation and asked people to follow Covid-appropriate behaviour, including wearing masks in crowded places, and getting vaccinated. 

PTI quoting official said random sample testing will be done at airports for international passengers arriving from China and other countries. 

The BSE Sensex, which opened higher earlier today, fell into the negative territory as the session progressed.

"Given the concern over the resurgence of pandemic once again along with recessionary fear, we expect market volatility to continue," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services. He expects sectors such as travel and tourism, hotels, airlines, entertainment and retail sectors to witness some pressure going ahead.

At the time of writing this story, 17 of 19 hotel stocks were trading lower. Stocks related to film production and distribution and aviation were also trading lower.

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