Corona New Variant Omicron Effect: Due to the availability of new variants of Corona virus, the stock market is witnessing turmoil. Except Telecom Pharma, profit-booking is being seen in all sectors in the market. But there is a decline in the stocks of companies like airlines, hotels, travel portals and multiplexes.
fear of restrictions
Investors invested in these companies feel that if the outbreak of the new variant of Corona increases, then there may be a lockdown again in many countries and India cannot be untouched by it, which will have the worst effect on airlines, hotels, travel portals and multiplex stocks which will be affected by Corona. They have not yet recovered from the crisis of lockdown imposed in both the waves. India had allowed international flights except 14 countries from December 15. But on Saturday, Prime Minister Narendra Modi had a meeting regarding the new variant of Corona, in which he asked to review this decision. That’s why there is a decline in airline stocks.
Hotels, airlines beating stocks
The shares of these sectors have been beaten for the second consecutive day after Friday. In the hotel sector, Indian Hotels is down by 3.70 per cent to Rs 175.75, East India Hotels is down 5.77 per cent to Rs 119.95, ORIENTAL Hotels is down 2.78 per cent to Rs 34.95. If we look at the shares of the airlines sector, then INTERGLOBE AVIATION (INDIGO) is trading 2.03% down at Rs 1,840, SPICEJET is down 6.25% at Rs 70.50. Online travel booking portal Easy Trip’s stock is also declining and it is trading at Rs 499.25, down 4.99 percent. IRCTC, a company related to railway travel online booking, is also trading at Rs 778, down 5.47 percent.
Shares of multiplex companies also slipped
Multiplex is still open but due to fear of new variant of corona virus, PVR is trading at Rs 1372, down 1.40%. INOX Leisure is trading 5.31% lower at Rs 357.20.
Actually the investors of these companies have to be sold. Many European countries have decided to stop the arrival of flights from South Africa. So some have stopped. The World Health Organization (WHO) has expressed a new variant of Corona.
Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)
read this also
Pharma Sector in Demand: Due to the new variant of Corona, tremendous buying in the shares of pharma-healthcare sectors
Stock Market Update: Tremendous volatility in the stock market, due to buying in pharma stocks, Reliance Industries, the stock market made a great comeback from the lower levels.