Zee Business Managing Editor Anil Singhvi said that despite Global Markets surging higher in the past few sessions, Indian markets didn’t do well due to surging Corona cases. The number of Covid-19 cases went upto 4 lakh per day a few days ago and that was a big concern for the markets.

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Singhvi said that many market participants were then expecting markets to fall but that did not happen. However, markets didn’t move up even though global markets were soaring. However, ever since Corona cases have fallen, confidence in the market is going up. Fresh daily cases have fallen under 3 lakh mark for 3rd consecutive day now.

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Singhvi said that big cities like Mumbai and Delhi are showing great improvement in control of Covid cases. Rise in Covid cases dropped below 1000 mark after many days is a big relief for Mumbaikars. Even in Delhi the Covid cases are below the 5000 mark for 3rd consecutive day.

Markets are focussed on declining Covid cases and increase in vaccination efforts by the Government. Citizens of India understand the importance of Vaccination and are ready to get vaccinated by standing in queue, said Singhvi.

Singhvi added that markets have shown solid strength after trading above 14900 levels and closing above 15050 levels. Singhvi said that it would be good, if markets again close above 15050 levels today. Singhvi said market participants should not worry as far as 14900 levels are holding.

Singhvi said that due to concerns in Global Markets, Participants should be cautious but need not worry. They should buy in the range of 14940 – 15040 in Markets as the markets would resume rally from there. Indian markets have underperformed Global Markets. Singhvi said that Indian Markets will not see higher dip when compared to the fall in the Global Markets.