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Below is quote on Volatility to increase as New Covid variant i.e Omicron tally reached 21 cases in India By Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd

The new covid variant that was initially detected in South Africa spread its legs in different parts of the world. As of now, more than 30 countries have detected the Omicron virus along with India. In the last couple of days, the cases of the omicron virus have increased significantly. Now the total tally has reached 21 cases in India, Several states had reported omicron cases, recently Rajasthan has reported 9 cases of omicron virus, earlier Maharashtra, Hyderabad etc has already reported several cases. Initial data from South Africa on Omicron suggest that the patients require less medical intervention during the recovery period. WHO recently said that they will tell more about this virus this week.

If this virus quickly spreads in India then the market will be volatile for the upcoming next two weeks, along with that any further development on the effectiveness of vaccines on new virus will be key monitrable for Indian markets.

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