World leaders to reflect on ‘State of the World’ during Davos Agenda 2022


Geneva, Jan 17 | The Davos Agenda 2022 kicking off on Monday will provide an opportunity for world leaders to reflect on the “State of the World” and shape solutions for critical challenges in the year ahead, according to the World Economic Forum (WEF).

Two years since the start of the Covid-19 pandemic, the five-day online event “will focus on driving concerted action among key global stakeholders”, Xinhua news agency quoted the WEF as saying in a statement.

Key sessions of the event will cover such issues as the pandemic, the fourth industrial revolution, energy transition, the climate crisis, sustainable development and the global economic outlook, according to the WEF.

Participants will also share their views on climate change, the social contract and vaccine equity, among others, said the WEF.

“Everyone hopes that in 2022, the Covid-19 pandemic, and the crises that accompanied it, will finally begin to recede. But major global challenges await us, from climate change to rebuilding trust and social cohesion. To address them, leaders will need to adopt new models, look long term, renew cooperation and act systemically,” said Klaus Schwab, founder and executive chairman of the WEF.

Last month, the WEF announced that due to continued concerns over the Omicron variant, it will defer its annual meeting, which is usually held in the Swiss ski resort of Davos.

Initially scheduled to take place between January 17-21, it is now planned for early summer.

Instead, participants joins the virtual Davos Agenda 2022 from January 17-21, bringing together global leaders to find solutions to the world’s most pressing challenges.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India



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