‘New Covid wave in France may accelerate in coming weeks’

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Paris, Nov 18 | The new fifth wave of the Covid-19 pandemic, which started in the country last month, will accelerate in the coming weeks, a top official has warned.

Jean-Francois Delfraissy, head of the scientific council that advises the government on Covid-19, made the remarks while speaking to the France Inter radio on Wednesday, reports Xinhua news agency.

“With the level of vaccination that we have, we are equipped with the capacity to face this fifth wave, under the condition of using all the tools in the toolbox,” he said, referring to the vaccination of the non-vaccinated, the booster shot, the barrier gestures and the application of health pass.

The immunologist estimated that the fifth wave would be “difficult” for the French health system since “the hospitalisations will rise, up to … 1,200 or even 1,400 new admissions per day, probably at the beginning of December”.

Delfraissy also defended the efficiency of Covid-19 vaccines.

“It is extraordinary to have got them so fast. They protect in a very strong way against serious illness from the coronavirus.”

France has approved the use of vaccines developed by Pfizer/BioNTech, Moderna, Johnson & Johnson and AstraZeneca.

On Tuesday, the French Public Health Agency reported 19,778 new Covid-19 cases, a record high since August 25 when the country registered 23,706 infections.

As of Thursday morning, France has reported a total of 7,433,545 confirmed Covid-19 cases and 119,281 deaths.

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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