New Covid cases over 2,000 for 6th straight day in S.Korea


Seoul, Nov 15 | South Korea on Monday reported more than 2,000 daily coronavirus cases for six days in a row, fueling worries of a surge in Covid-19 infections after the country relaxed its virus-related restrictions early this month.

The country reported 2,006 new Covid-19 cases, including 1,986 local infections, raising the total caseload to 397,466, Yonhap news agency reported citing the Korea Disease Control and Prevention Agency (KDCA).

The number of daily cases has stayed in the quadruple digits since July 7, with the tally peaking at a record 3,270 on September 25.

The country added 12 more deaths from Covid-19, bringing the death toll to 3,115. The fatality rate stood at 0.78 per cent.

Health authorities warned of a possible surge in daily infections and serious cases under the eased social distancing scheme aimed at bringing the country closer to pre-pandemic life.

On November 1, the government began its “living with Covid-19” policy as part of a broader plan to lift the virus restrictions by the end of February.

Under the first of the three-phase scheme, people are allowed to gather in groups of up to 10, regardless of vaccinations. Limits on business hours for restaurants, cafes and movie theatres are fully lifted, except for adult entertainment facilities, such as clubs and bars.

The number of patients in critical conditions shot up after the eased virus curbs.

The number of infected senior citizens rose as the effect of the vaccination has begun to taper down for those who received the shots early this year. Breakthrough cases at nursing homes and hospitals also increased.

The number of patients in critical condition reached 471 after jumping to an all-time high of 485 on Saturday.

About 41.92 million people, or 81.7 per cent of the country’s 52 million population, had received their first Covid-19 vaccine shots as of Sunday. The number of fully vaccinated people came to 40.1 million, or 78.1 per cent.

The KDCA expects full vaccination rates to reach 80 per cent around mid-December.

Of the locally transmitted cases, the larger Seoul area, home to half of the total population, took up more than 80 per cent. Seoul reported new 859 cases, with 602 in the surrounding province of Gyeonggi and 102 in Incheon, a port city just west of Seoul.

The number of new imported cases came to 20, raising the total to 15,390, the KDCA said.

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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