Washington, Oct 23 | Covid-19 has become the deadliest pandemic in the US history, claiming more lives than HIV/AIDS claimed in 40 years, according to a news website.
The US government’s initial approach to both HIV/AIDS and Covid-19 was “denial and indifference”, Xinhua news agency quoted the report by The National website published on Friday.
When AIDS rampaged through communities in parts of the US in the early 1980s, the federal government looked the other way and even slashed spending on public health agencies, said the report.
As to the Covid-19 pandemic, when it was reported in the US, the White House played down the risks, dismissing it as akin to “a regular flu”, it said.
Both crises, the report added, have disproportionately affected minority groups and poorer communities.
As of Saturday, the Covid-19 pandemic has killed a total of 735,374 in the US, while it is believed that at least 700,000 people in the country have died as a result of HIV/AIDS.
The Covid-19 deaths in the US are currently the highest in the world.
The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.
Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.
In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.
Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.
Source: Choice India