New Zealand’s largest city to relax Covid curbs

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Auckland, Sep 20 | New Zealand’s largest city Auckland will relax restrictions by moving to Covid-19 Alert Level 3 at 11.59 p.m. on Tuesday for at least two weeks, as the country reported 22 new Delta cases on Monday.

The city has remained at level 4, the top-level Covid-19 lockdown, for more than 30 days, longer than last year’s lockdown, with schools and none-essential businesses closed, reports Xinhua news agency.

Prime Minister Jacinda Ardern made the announcement on Monday after a post-cabinet meeting.

Construction work and takeaway services can resume with necessary safety measures in place, while most students are encouraged to study at home.

The rest of the country will stay at Alert Level 2, which means businesses and schools are back to normal, with masks-wearing mandatory in certain settings and gatherings limited to 50 people in size.

“We know that Level 4 has been tough, but it has made a difference,” Ardern told a press conference, stressing that Level 4 was “necessary to stop the outbreak exploding into thousands of cases”.

Monday’s new community cases of Delta variant were in Auckland and nearby Whakatiwai, which brought the total number of cases in the country’s community outbreak to 1,071, according to the Ministry of Health.

Sixteen community cases are in hospital, including four in intensive care units (ICUs) or high dependency units (HDUs), said a ministry statement.

There are 1,039 cases that have been clearly epidemiologically-linked to another case or sub-cluster, and a further 12 cases for which links are yet to be fully established, it said.

The country also reported one case in recent returnees. The case has remained in quarantine in Auckland.

The total number of confirmed cases in New Zealand since the start of the pandemic is 4,082, while the death toll 27.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered with modest gain against the resilient global cues. Throughout the week, Sensex traded in a narrow range following an uneven move. Sensex ended at 54884.66 gaining 558 points or 1.03 percent while Nifty settled at 16352.45 with 86 points or 0.53 percent on a weekly basis. While Banknifty ended at 35613.30 levels with strong bounce with an upside of 3.90 percent in a week.

sharemarket weekly updates bhaskarlive

INDIA VIX has cooled off during the week with 7.01 percent and has settled at 21.48 levels. Investors and traders may watch out key events such as the RBI meet in the second week as well as the US Fed meeting likely to be on 14-15 June for monthly expiry. As corporate results are likely to end soon stocks would expect less volatility in upcoming days. In Nifty stocks, HDFCLIFE gained 9.61 percent while DIVISLAB shed 18.41 percent in a week. Sectorally Nifty Finance saw the highest gains of 4.32 percent followed by the Nifty Auto with 3.26 percent. On the flip side Nifty Pharma, Energy, Realty and PSE lose more than 3 percent each on a weekly basis. However Midcap gained 0.77 percent while Smal lcap dropped by 3.42 percent.

Technically, Nifty has formed a bullish candle on the weekly chart with a long tail suggesting strong support around 15900 levels, while on the upside 16800 may act as strong resistance. Index has taken support from the previous horizontal line & closed above 21-days Simple Moving Averages that indicates further pullback rally in the near term.

Indicators such as RSI remained in the neutral zone while MACD suggest some positive cross over observed in daily time frame suggest some sign of reversal. Coming to the OI Data, on the call side the highest OI witnessed was 16500 followed by 16800 strike prices while on the put side, the highest OI was at 16000 strike price. Overall, Nifty is having support at 16000 mark while on the upside 16500 followed by 16750 may act as an immediate resistance. While Bank nifty has support around 34300 while resistance is placed at 36800 on weekly chart.

Om Mehera
Research Associates
Choices Broking

Souce: Choice India

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