Schools in Delhi shut down till further orders due to pollution

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Schools in Delhi shut down till further orders due to pollution
Schools in Delhi shut down till further orders due to pollution

New Delhi, Dec 2 | Schools in Delhi shut down till further orders due to pollution. Due to ‘very poor’ air quality, all schools in Delhi will remain closed from December 3 onwards till further order, Environment Minister Gopal Rai said on Thursday.

Earlier on November 13, Delhi Chief Minister Arvind Kejriwal announced to shut down physical classes in schools for a week, adding that education will continue in virtual mode. After a gap of almost two weeks, all schools in the national capital were reopening on November 29.

This move of the Delhi government came after the Supreme Court of India gave a 24-hour ultimatum to the Centre, Delhi and its neighbouring states to act against rising air pollution. Despite the ban, CBSE exams would go ahead with necessary precautions and safety measures.

The state government took a similar decision on Monday when it announced a blanket ban on all the construction and demolition (C&D) activities in the city until further orders. Besides, the entry of non-CNG and non-electric trucks from outside of Delhi was also prohibited on the same date till December 7 to reduce vehicular emission.

While stubble burning in the neighbouring states of Uttar Pradesh, Haryana and Punjab is reported to be a major source of pollution in the capital, dust from the construction and demolition activities, vehicular emission and pollution from open burning contribute as the city’s own source of pollution.

On Thursday, Delhi’s overall AQI at 9.30 a.m. stood at 382 with the level of PM2.5 and PM10 standing at 227 and 401, respectively, as per System of Air Quality and Weather Forecasting And Research (SAFAR).

According to the Air Quality Early Warning System for Delhi, the air quality is likely to remain in the ‘Very Poor’ category on December 3 and December 4. “Winds are likely to remain slow/calm during December 3 to 5 which are unfavourable for dispersion of pollutants. The Outlook for subsequent five days: The air quality is likely to remain in Very Poor category with PM2.5 to be the predominant pollutant,” It added.

Source: IANS

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Share Market Weekly Outlook for Next Week

Share Market Weekly Outlook for Next Week

Indian market plummets for the second consecutive week, seems bulls losing their upper hands in the coming days. Index reacted violently grasping Indian as well as global factors throughout the past week.

High oil prices, uncertainty amid Ukraine war, mounting inflation and prospects of aggressive monetary tightening by the U.S. Fed all contributed to poor sentiment. Undoubtedly, the biggest negative sentiment was led by continued inflation all over the world. Sensex sheds 2041.96 points or 3.72 percent while Nifty losses 629.10 points or 3.83 percent in a week. Simultaneously, Bank nifty also lost control over the bears’ dominance. Nonetheless, no sector ended in green while Nifty Energy lost 10.56 percent and remained the prime laggard followed by Nifty PSE, and Nifty Realty losing 5 to 6 percent in a week.

In Nifty stock, BAJAJ AUTO gained 4.07% while TATASTEEL lost 14.54% on a weekly basis. INDIA VIX closes at 23.48 suggesting no sign of relief in volatility. Whenever the market tanks 20% from its peak, it is technically termed as the bear market. Currently the Indian market remains at the edge of 15 percent fall. Technically, on a weekly chart, the index has formed a long bearish candle confirming change in trend from positive to negative side.

Index has also faced resistance around 16300 levels throughout the week. Indicators as RSI still remains in the oversold zone and MACD also indicating no sign of reversal. In the daily chart lower low- lower high formation suggests no major pullback is expected. Coming to the OI monthly Data, on the call side the highest OI witnessed was 16000 followed by 16500 strike price while on the put side, the highest OI was at 15500 followed by 15000 strike price. Overall, Nifty is having support at 15500 mark while on the upside 16100 followed by 16300 may act as an immediate resistance. While Banknifty has support around 32000 while resistance is placed at 34300 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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Share Market Closing Bell: Closing Bell: Nifty ends below 16,200, Sensex pares losses to close 276 pts lower

Share Market Closing Bell: Closing Bell: Nifty ends below 16,200, Sensex pares losses to close 276 pts lower

It was a volatile trading session after a positive opening, Nifty made an intraday high at 16318.75 level but showed downside momentum and tested the 16000 mark and managed to close at 16167.10 level with a loss of 72.95 points.

However, Bank nifty closed the session at 34693.15 level with a gain of 210.50 points. 31 out of Nifty 50 stocks ended in Red which suggest broad based selling. Among sectors, Bank, Commodities indices up by 0.5-0.3 percent each, while IT and Auto indices down by 1 percent each.

Stocks like ONGC, AXISBANK, INDUSINDBK, CIPLA & HDFC ended in green SHREECEM, BAJAJFINSV, LT & BAJFINANCE were the prime laggards.Technically, The Nifty has formed a Hammer Kind of candlestick pattern on a daily chart which indicates value buying from lower levels. Moreover, Nifty has taken support from the lower band of Bollinger on a Four- hourly chart which is a sign of short-term reversal in the counter.

However, the momentum indicators RSI bounced from oversold zone as well as divergence has been seen on an hourly chart which indicates bounce back momentum. The Nifty may find Strong support around 16000 levels, while on the upside 16400 may act as an immediate hurdle for the Nifty crossing above the same can attract fresh buying. On the other hand, Bank nifty has support at 33800 levels while resistance at 35500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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