Anand Mahindra hopeful of market revival over Fauci's corona vaccine assurance
With the US President health advisor Dr Anthony Fauci hinting at the arrival of vaccines against Covid-19, business tycoon Anand Mahindra has expressed hope that the fragile market will take a cue from it and rebound. Taking to Twitter, Mahindra wrote, "In today’s world, this one man’s statements could affect global financial markets more strongly than the words of any political leader or central bank governor. Let us see now markets respond this coming week."
Dr Anthony Fauci has said that he remains confident that a coronavirus vaccine will be ready by the end of this year and as we go into 2021. I don't think it's dreaming ... I believe it's a reality (and) will be shown to be reality." As the government's top infectious disease expert, Fauci heads the National Institute of Allergy and Infectious Diseases.
Besides, coronavirus cases trend and geopolitical developments on US-China ties front will remain key market drivers globally.
Meanwhile, the number of cases around the world linked to Covid-19 has crossed 1.8 crore and the death toll has topped 7 lakh. In India, the death toll due the disease rose over 37,000 and the number of infections has crossed 17-lakh mark.
Investors will also track movement in Brent crude oil and rupee-dollar during the week.
During the last week, the Sensex fell 522.01 points or 1.36 per cent, while the Nifty declined 120.70 points or 1.07 per cent.
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