Shares of diagnostic companies are in focus today amid global concerns over the Covid situation. Shares of Dr. Lal PathLabs Ltd. are up by 6%, Metropolis Healthcare Ltd. by 3% and Vijaya Diagnostic Center Ltd. by 3.16%.

Even after the strict lockdown in Beijing city of China, the corona cases do not seem to be stopping there. In view of this, governments around the world are on alert. In India too today Health Minister Mansukh Mandaviya has called a profile meeting regarding this. Many important announcements are expected in the meeting regarding the prevention of corona in India.

A sharp jump is being seen in the shares of companies in the pharma sector. Their shares are climbing rapidly today. The brisk trading in the shares of these companies is expected to continue even further.

Diagnostics stock up

Shares of Apollo Hospitals and Fortis Healthcare rose 0.6% and 1.5% respectively today. In comparison, the Sensex was trading with a slight decline. VK Vijayakumar, chief investment strategist at Geojit Financial Services, said the near-term market is not favorable for equities. Rising Covid cases in the US, Korea, Brazil and China are a matter of concern. The situation in China is serious. This may affect market sentiment.

Indian Government is keeping an eye

The Indian government on Tuesday urged all states and union territories to ramp up genome sequencing of positive samples to track new variants. In a letter to states and union territories, Union Health Secretary Rajesh Bhushan said such an exercise would enable timely detection of any new variants coming into the country. This will help in the smooth functioning of the public health system.

Most experts are of the view that there is no need to panic over the rise in Covid cases in China. Extensive covid vaccination campaign is being conducted in India.