April futures expiry to increase volatility, keep markets under pressure
Markets in the week gone by were driven by fear, war-mongering and panic. Of course, all of this leads to extreme volatility and sharp two-sided moves.
The usually busy markets in Delhi such as Sarojini Nagar, Lajpat Nagar and local residential markets witnessed low turnout of customers on Saturday despite the lifting of weekend curfew in the national capital by DDMA.
Malls such as Select City Walk at Saket, DLF and Ambience at Vasant Kunj wore a deserted look. “Customers will increase over the weekend,” said a staffer at Ambience mall.
Restaurants also reopened Friday at 50 per cent capacity. “We have started dine-in by complying with physical distancing norms while arranging seats. It is a great relief to workers and staff because several have lost earnings since the onset of the pandemic,” said staff from Chili’s restaurant at Connaught Place.
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Several restaurants and bars have also decided to allow dine-in with reservations to avoid crowding over the weekend.
The district administrations have also restarted random testing at Metro stations and public places. “We are testing all commuters who are exiting from Metro stations and are taking down their details. We have tested more than 500 people today… tests are being conducted at Dhaula Khan Metro station and other public places in Delhi,” said Amita Sarkar, a senior lab technician at the station.
Random testing was stopped from January 12 after the ICMR guidelines directed that tests be done only for symptomatic and comorbid patients who have come in contact with positive patients.
“Now, as the restrictions are eased, the districts have also strengthened the enforcement at markets to maintain social distancing and Covid appropriate behaviour. Thus, random tests are being conducted to curb the spread of the virus,” said a senior district official, on condition of anonymity.
Welcoming the government’s decision, a shopkeeper of Sarojini Nagar market, Manish said, “We are thankful that the government lifted the odd-even curbs. We are cautious and strictly adhering to protocol and regulations implemented by the DDMA and our staff are also directing the customers to follow suit. We cannot afford another lockdown and see our shops sealed again.”
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