Shares of seven hospitality firms declined by 2.61% to 12.34% as the coronavius outbreak is suppressing the travel and tourism industry.
HLV (down 12.34%), Lemon Tree Hotels (down 7.37%), Indian Hotels Company (down 6.81%), India Tourism Development Corporation (ITDC) (down 6.37%), Chalet Hotels (down 5.87%), TajGVK Hotels & Resorts (down 4.26%) and EIH (down 2.61%) declined.
Meanwhile, the Nifty 50 index was down 127.65 points, or 1.13% at 11,175.65.
Shares of hospitality companies tumbled as news of quarantines, mass evacuations and infected cruise ships make travelers reconsider going on vacation in this middle of a global pandemic.
Although coronavirus started in central China, it is spreading faster in the rest of the world. The epidemic has grown to infect over 92,000 people with over 3,000 fatalities. India's Health Minister Harsh Vardhan said number of confirmed coronavirus cases has jumped to 28.
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