Italy tightens Covid rules on public transport

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Rome, Nov 17 | New measures to fight the spread of Covid-19 on public transport and in taxis came into force in Italy on Tuesday, as authorities attempt to contain a fourth wave of infections.

Under the new rules, which were signed off in a decree issued by health and transport ministers on Monday, all passengers will have to show their “green pass” before boarding long-distance and inter-regional trains, Xinhua news agency reported.

The green pass is a certificate showing that a person is either fully immunised or has received at least one dose of a Covid-19 vaccine, has recovered from the disease or tested negative in the last 48 hours.

The new measures concern all the country’s major train stations, including Rome, Milan, and Florence, and all stations where checks are possible according to local conditions.

The government decree also states that if a passenger on board a train has coronavirus symptoms, railway staff and police may decide to stop the train in order to proceed with emergency interventions. This measure applies to all trains, including local trains on which passengers are not currently required to hold a green pass.

Taxis and car hire services with drivers (NCC) are now limited to a maximum of two passengers, except where passengers are members of the same family.

So far, compared to some other European countries the fourth wave has had a limited impact on the overall pandemic situation in Italy, but statistics show that infections have been on the rise for the last four weeks.

The latest report from Italy’s National Health Institute (ISS) shows an incidence of 78 cases per 100,000 inhabitants in the week November 5-11, compared to 53 cases in the previous week.

It also shows that the reproduction number (Rt) was at 1.21 between October 20 and November 2, compared to 1.15 in the previous period.

A reproduction number above one indicates the virus is circulating quickly, since it means that one infectious person will, on average, transmit the infection to more than one other person.

Italian Health authorities are pushing forward with a vaccination campaign, focusing especially the need for people to receive a third vaccine dose six-nine months after the first.

This is viewed as the best way of containing the risk of new large outbreaks, considering the high percentage of people who are now fully immunized (84.2 per cent of the target population aged over 12, as of November 15.)

Administration of third doses started in the second half of September, initially to those with fragile immune systems. It continued in October, this time targeting those aged over 60.

On November 11, the Health Ministry said that booster shots would start being offered to people aged between 40 and 60, at least six months from the first dose, starting on December 1.

As of Tuesday, Italy has recorded a total of 4.8 million coronavirus cases, with more than 132,000 fatalities and over 4.6 million recoveries.

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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