Philippines to allow entry of fully vaccinated foreign tourists

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Manila, Nov 19 | The Philippines will soon allow the entry of fully-vaccinated foreign tourists from over 40 “green” or Covid-19 low-risk countries and regions, Cabinet Secretary Karlo Nograles said on Friday.

Nograles, co-chair of the interagency coronavirus task force, said the government is still finalising the guidelines, including the exact date for the reopening, reports Xinhua news agency.

He told a virtual press conference that the decision to “open up our shores” to foreign tourists from safe places is part of the country’s “calibrated reopening of the economy”.

Nograles said the tourism sector significantly contributes to the economy, and allowing foreign tourists will help the country rebound from the pandemic.

The Philippines’ Department of Health reported 1,485 new Covid-19 infections on Friday, bringing the number of confirmed cases in the Southeast Asian country to 2,823,210.

The health department also reported that 277 more people died, bringing the country’s death toll to 46,698.

The Philippines, which has around 110 million population, has tested more than 22 million people since the pandemic.

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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