India logs 11,466 fresh Covid cases

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New Delhi, Nov 10 | India recorded 11,466 fresh Covid cases in the past 24 hours, the Ministry of Health and Family Welfare said on Wednesday.

A total of 460 fatalities were also reported taking the death toll to 4,61,849.

The recovery of 11,961 patients in the last 24 hours has increased the cumulative tally to 3,37,87,047. With this, the country’s recovery rate stands at 98.25 per cent, the highest since March 2020.

The active caseload stands at 1,39,683, the lowest in last 264 days. Currently, the active cases constitute 0.41 per cent of the country’s total positive cases, the lowest since March 2020.

Meanwhile, India has so far conducted over 61.85 crore cumulative Covid tests with a total of 12,78,728 tests being conducted during the said period.

The weekly positivity rate at 1.20 per cent has remained less than 2 per cent for the last 47 days now.

The daily positivity rate stands at 0.90 per cent, which has also remained below 2 per cent for last 37 days and less than 3 per cent for 72 consecutive days now.

With the administration of 52,69,137 vaccine doses in the last 24 hours, India’s Covid inoculation coverage has reached 109.63 crore as of Wednesday morning.

This has been achieved through 1,11,61,268 in sessions.

Source: IANS

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Share Market Closing Bell: Nifty ends around 15,800, Sensex tanks 1,416 pts

Share Market Closing Bell: Nifty ends around 15,800, Sensex tanks 1,416 pts

On the back of Global Clues and SGX, Nifty opened on a gap down note & continued downside momentum throughout the day and closed the session at 15809.40 level with a loss of 430.90. However, Bank nifty closed the session at 33315.65 level with a loss of 848.05 points.

India VIX closed at 24.56 up by 10.13% which is a sign of more volatility in upcoming sessions.47 stocks out of NIFTY 50 closed in RED which suggest broad based selling. All the sectoral indices were ended in the red with metal, IT indices down 4-5 percent.

Despite one way fall, Stocks like ITC, DRREDDY, POWERGRID were the top gainers, While WIPRO, HCLTECH, INFY, TCS & TECHM were prime losers. On a daily chart, Nifty has formed a Bearish candle which indicates downside momentum for an upcoming session. Moreover, Nifty is showing support from horizontal line i.e., 15750 levels which is make or break level. In addition, Nifty has been sustained above the 21-Monthly Moving Average which indicates a bounce back from lower levels can be seen.

However, the momentum indicators MACD & Stochastic were trading with a negative crossover & trading in oversold zone which is a sign of sideways to negative trend in Nifty. The Nifty may find Strong support around 15700 levels, breaching below it can show more downside till 15500 levels while on the upside 16000 may act as an immediate hurdle. On the other hand, Bank nifty has support at 32800 levels while resistance at 34500 levels.

Palak Kothari
Research Associate
Choice Broking

Source: Choice India

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