SL mulls making Covid vax cards mandatory

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Colombo, Nov 9 | Sri Lankan Health Minister Keheliya Rambukwella said that legal advice had been sought if Covid-19 vaccine cards could be made mandatory for people to visit public places across the island nation.

Speaking to legislators in Parliament, Rambukwella said that following discussions, the attorney general had informed him that legal procedures could be taken against those who had not been vaccinated with both doses if they visit the public places in the future, reports Xinhua news agency.

Rambukwella said the Health Ministry will introduce a mobile app to display whether both doses of the vaccine had been obtained and if not, people will not be allowed to enter public places.

According to the Ministry, over 60 per cent of Sri Lanka’s total population had so far been fully vaccinated against Covid-19 as a mass vaccination program, which began in January, is still underway.

The vaccines being administered are Sinopharm, AstraZeneca, Pfizer, Moderna, and Sputnik V.

To date, Sri Lanka has reported 545,256 Covid-19 cases since March 2020 with 13,856 deaths.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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