* New COVID-19 cases are triggering stricter curbs in four states

* Hammered travel stocks result in losses on the ASX

* NZX 50 down 0.18% (updates to close)

28.

The S & P / ASX 200 index hovered at 7,307.3 points, with travel and technology leading the loss.

Over the weekend, Australia reported one of the highest numbers of locally acquired coronavirus cases this year, triggering lockdowns in the cities of Sydney and Darwin and forcing stricter restrictions in four states.

“These coronavirus-related lockdowns have steered the market towards trends first seen in the early stages of the pandemic last year,” said Henry Jennings, senior analyst at Marcustoday Financial Newsletter.

“Supermarkets and online retailers are making progress with the two-week stay-at-home order, while travel and tourism stocks are being dampened again by the restrictions on movement.”

Travel and tourism stocks were hit with Qantas Airways, Webjet Ltd and Flight Center Travel Group, each falling about 5% to lows not seen in more than a month.

Online retailers won big as the coronavirus-induced lockdowns led to a rally in “stay-at-home” stocks. Ecommerce names like Temple & Webster and Kogan.com each closed over 10%.

Panic buying in supermarkets saw Woolworths and Coles share prices rise 3% and 1.8%, respectively.

Local tech stocks closed 2.8% lower, with the darling “buy now, pay later” Afterpay falling to 7.7% in its worst intraday session in more than six weeks, weighing on the sub-index.

Gold stocks fell 1.6% despite a slight rise in precious metals prices, with Gold Road Resources Ltd leading losses after the Australian miner cut its production forecast for the June quarter.

Energy stocks closed 0.2% higher and watched oil prices rise. The industry heavyweights Woodside Petroleum and Santos gained 1.04% and 1.4%, respectively.

Higher iron ore prices helped the mining sub-index close 0.2% higher, with index heavyweights BHP Group gaining 1.3% while Fortescue Metals Group gaining 1%.

Across the Tasman Sea, New Zealand’s benchmark index S & P / NZX 50 ended 0.18% lower at 12,603.8.

Reporting by Riya Sharma in Bengaluru, editing by Sherry Jacob-Phillips