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While Indian indices Sensex and Nifty dropped 1.6% on Monday, certain hospital stocks gained investor interest after the government confirmed three cases
Hospital Shares
While Indian indices Sensex and Nifty dropped 1.6% on Monday, certain hospital stocks gained investor interest after the government confirmed three cases of Human Metapneumovirus (HMPV) in India—two in Karnataka and one in Gujarat—amid reports of a virus outbreak in China.
Bengaluru-based Narayana Hrudayalaya surged 3.4%, reaching an intraday high of Rs 1,355 on the NSE, while Rainbow Children’s Medicare rose by 4%. Other hospital stocks, including Apollo Hospitals, Aster DM Healthcare, and Krishna Institute of Medical Sciences (KIMS), saw gains of up to 2%.
The India VIX, a measure of market volatility, spiked 13% as a broad sell-off affected mid- and small-cap stocks across various sectors. The Sensex dropped over 1,200 points to a low of 77,960, while the Nifty fell to around 23,600.
India has confirmed two HMPV cases—one in a three-month-old and another in an eight-month-old baby in Bengaluru. The Karnataka Health Department confirmed the case of the eight-month-old after medical tests returned positive results. The state’s health minister has called an emergency meeting to address the situation.
The Ministry of Health emphasized that HMPV is already circulating globally, including in India, and cases have been reported in several countries. However, the ministry reassured that there has been no unusual rise in Influenza-Like Illness (ILI) or Severe Acute Respiratory Illness (SARI) cases in India, citing data from ICMR and the Integrated Disease Surveillance Programme (IDSP).
The ministry assured that the situation is being closely monitored through all available surveillance channels. The ICMR will continue tracking HMPV trends throughout the year, and the World Health Organization (WHO) is providing updates regarding the situation in China. India’s preparedness drills have confirmed that the country is well-equipped to handle any potential increase in respiratory illnesses and can swiftly implement public health measures if necessary.
