Covid: Malaysia reports 1st Omicron variant case

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Covid: Malaysia reports 1st Omicron variant case
Covid: Malaysia reports 1st Omicron variant case

Kuala Lumpur, Dec 3 | Covid: Malaysia reports 1st Omicron variant case. Malaysia has identified its first case of the Omicron variant of Covid-19 in the country, Health Minister Khairy Jamaluddin said on Friday.

The individual is a non-Malaysian student from South Africa who arrived in the country on November 19, Khairy told a press conference, Xinhua news agency reported.

He said there is no cause for immediate concern as the individual had been quarantined on arrival, with contact tracing being done and exposed individuals being tested.

“The case underwent quarantine alone at the centre and based on the investigation conducted, the student complied with the orders issued. The case is also fully vaccinated and presents no symptoms,” he said.

On December 1, the ministry imposed entry restrictions on foreign nationals from eight African countries with a high risk of Omicron infections.

Travellers from Botswana, Eswatini, Lesotho, Mozambique, Namibia, South Africa, Zimbabwe and Malawi will no longer be allowed to enter Malaysia for the time being.

Khairy also said travellers from several countries and regions are temporarily barred from taking part in the Langkawi international travel bubble program, following the detection of cases involving the Omicron variant.

The ban also applies to those with a history of having travelled to these countries and regions within 14 days.

Khairy said the vaccinated travel lane (VTL) between Singapore and Malaysia would continue to operate for the time being.

Brazil vaccinates 90% of target population with first Covid dose 

The Omicron variant was first reported to the World Health Organization (WHO) by South Africa last week. So far, several European countries, as well as countries and regions including Australia, Canada, Israel and China’s Hong Kong, have confirmed infections of the variant.

The WHO has called the strain with a large number of mutations a “variant of concern,” warning that it may be highly transmissible and pose an increased risk of re-infection to people who have previously been infected with Covid-19.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

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.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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