S. Korea’s new Covid-19 cases fall below 30k amid easing restrictions

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Seoul, May 12 | South Korea’s new Covid-19 cases fell on Thursday after staying above 40,000 for two days amid the government’s efforts to move the country back to pre-pandemic normalcy.

The country added 35,906 new Covid-19 infections, including 12 cases from overseas, bringing the total caseload to 17,694,677, according to the Korea Disease Control and Prevention Agency (KDCA).

The tally decreased from 43,925 on Wednesday and was down from 42,289 a week ago, Yonhap news agency reported.

The public health agency reported 63 Covid-19 deaths, bringing the total to 23,554, the KDCA said.

The number of critically-ill patients came to 354, down by 29 on Wednesday.

South Korea’s new daily infections have been on a downward trend in recent weeks after peaking at more than 6,20,000 on March 17 amid the spread of the Omicron variant.

The government eased the outdoor mask mandate on May 2, except for large gatherings of 50 or more, as it is moving toward a return to normalcy. The indoor mask mandate remains in effect.

Of the locally transmitted cases, Seoul on Thursday reported 5,695 new Covid-19 cases and Gyeonggi province surrounding the state capital identified 8,392 cases.

As of Wednesday midnight, 44.56 million people or 86.8 per cent of the 52 million population had been fully vaccinated, according to the KDCA data.

A total of 33.2 million people had received their first booster shots, representing 64.7 per cent and 3.19 million people or 6.2 per cent had received their second booster shots.

The South Korean government is pushing second booster shots for those aged 60 years and above to try to reduce deaths and prevent them from becoming critically-ill patients.

As of Wednesday midnight, 26 per cent of those aged 60 years and above had received their second booster shots.

Source: IANS

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Share Market Closing Bell: Market ends marginally lower amid volatility

Share Market Closing Bell: Market ends marginally lower amid volatility

Dalal Street witnessed tug of war between bulls and bears as Sensex settled at 54208.53 losing 109 points or 0.20 percent and Nifty ended at 16240.30 with loss of 19 points. Bank nifty closed the session at 34163.70 levels with loss of 138 point after erasing early session gain.

BSE Midcap and BSE Small cap indices turned flat after rising around half a percent each. On the sectorial front, Nifty Pharma and FMCG have contributed a percent each on a closing basis. On the flip side Nifty Realty, Nifty PSE ended with losses of 1.75 percent and 1.73 respectively. In Nifty stocks, TATACONSUM, CIPLA and ADANI PORT were the top gainers while POWERGRID, BPCL and TECHM were the prime laggards.

In the daily chart Nifty has ended with a bearish candle. However 16200 levels are protected throughout the day. Index might face high volatility on weekly expiry day. Riding against the trend may not be beneficial for short term traders. According to volume profile 16100 and 16000 may act as immediate support.

Indicators such as MACD and RSI are still struggling to overcome from oversold zone in the daily time frame. From the time cycle prospect Index would remain highly volatile till 27th May of this month. Bollinger band indicates 16650 would remain strong resistance in coming days. On the other hand, Bank nifty has support at 33400 levels while resistance at 35000 levels.

Om Mehra
Research Associate
Choice Broking

Source: Choice India

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