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Successful coronavirus vaccine trial by Moderna Biotech cheers up markets, but there is a catch, says Anil Singhvi

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The news about successful trials of a coronavirus vaccine has augured well for the stock markets, world over, as there is confidence now that the cure has finally almost arrived, Zee Business Managing Editor Anil Singhvi opined.

Moderna Biotech, which was leading the race to manufacture the vaccine has sampled it on 45 people and results have been positive in all the cases. This is encouraging development and the markets were bound to react positively after the news emerged.

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 The Market Guru however, said that there is a catch. This news on its own will not lead to market rallies on a daily basis. The markets will only gain when the vaccine is formally launched. In fact, Singhvi highlighted the fact that the markets have already discounted the news of vaccine success and the cases being reported on a daily basis.

Around 30000 people will now be tested with the vaccine.

It is also not a surprise that the trials of the vaccine have been successful. As the year progresses, there may be more companies, which would announce successful trials.

The Market Guru said that US markets fell on Monday and said that the reaction could last for a day or two, but teh important thing is that markets will eventually come back on the track. 

The market trends show an upside now and investors should not worry if markets fall by say 1 per cent after gaining 2 per cent. It is a running correction.

The trends for global markets is very clear and investors are buying on every fall. There is no reason to be worried until the markets end down breaking crucial levels.

Anil Singhvi concluded by saying that the US Markets are not worried about growing number of coronavirus cases or sluggish growth of its economy. The beauty about them is that there are no appreciable reactions on bad news while the good news is evoking sharper movements.

See Zee Business Live TV Streaming Below:

Indian markets have not been affected by US markets’ fall and the Tuesday fall was because of domestic reasons, he said.



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