Equity indices dip, banking stocks under pressure

Agencies
February 10, 2021

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Mumbai, Feb 10: Key equity indices see-sawed between gains and losses on Wednesday and closed in the red zone as investors turned cautious over the sustainability of a recent risk rally.

At the closing bell, the BSE S&P Sensex was down by 20 points or 0.04 per cent at 51,309 while the Nifty 50 edged lower by 3 points or 0.02 per cent to 15,107.

Sectoral indices at the National Stock Exchange were mixed with Nifty private bank down by 0.7 per cent, financial service by 0.2 per cent and metal by 0.8 per cent. But Nifty realty gained by 1.6 per cent and auto by 0.9 per cent.

Among stocks, HDFC Bank dropped by 1.2 per cent to close at Rs 1,591.90 per share. Axis Bank closed 0.7 per cent lower and IndusInd Bank by 0.4 per cent.

Tata Steel lost by 1.1 per cent a day after the company reported a consolidated profit of Rs 3,989 crore for the quarter ended December 2020 driven by improved realisation-backed strong operating income.

The other prominent losers were Bharti Airtel, Eicher Motors, ONGC and IndianOil Corporation.

However, Bajaj Finserv gained by 2.7 per cent to Rs 10,215 per share and Bajaj Finance by 1.7 per cent to Rs 5,491.65.

SBI Life moved up by 2.7 per cent, HDFC Life by 2.1 per cent, Cipla by 2.8 per cent and GAIL by 1.8 per cent.

Meanwhile, Asian stocks were subdued as investors stayed away from making big bets ahead of the Lunar New Year holidays.

Japan's Nikkei 225 gained marginally by 0.19 per cent and South Korean equities rose by 0.52 per cent amid worsening unemployment data weighing on investor sentiment.

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News Network
November 12,2024

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The UN humanitarian coordinator for Lebanon has warned that the “picture of life in Lebanon remains grim,” highlighting an "alarming" level of human suffering and significant humanitarian consequences due to the ongoing Israeli carnage.

Imran Riza, the UN Deputy Special Coordinator and Resident and Humanitarian Coordinator for Lebanon (UNSCOL), provided a stark overview of the Arab country's dire circumstances in a statement released on Monday.

“The current picture of life in Lebanon remains grim. Yesterday, airstrikes reportedly killed 23 people, including seven children, in the village of Aalmat in Mount Lebanon,” Riza said on X.

An airstrike in the city of Tyre on the same day resulted in the tragic deaths of five siblings from a single family, all of whom had special needs, according to his statement.

He added that in the last week, Israeli airstrikes have killed at least 241 individuals and left 642 others injured in Lebanon, as reported by the Ministry of Health.

“In the past month, more than 185,000 people have fled their homes in their search for safety within the country, bringing the total to over 870,000 people internally displaced,” Riza said

The UN official highlighted that numerous individuals, including the elderly and those with health issues, are staying behind while witnessing the ruins of their ancestral homes.

He urged for the swift safeguarding of civilian people and infrastructure, emphasizing the necessity to uphold international humanitarian law and end the ongoing violence.

Lebanon’s National News Agency reported that Israeli forces bombed a house in the town of Maydoun in Bekaa on Monday night, killing three people and destroying the house.

Earlier, Israel bombed the northern town of Ain Yaaqoub, killing at least 14 people.

The killings came as Israeli military continued to pound Lebanon, bombing shops selling electrical appliances in the southern city of Tyre and carrying out air raids on the towns of Shamshtar in eastern Baalbek and Roumine in southern Nabatieh.

Lebanon’s Ministry of Health said Israeli attacks killed at least 54 people across the country on Monday.

Israel’s merciless attacks continue despite calls from the UN Security Council for an immediate ceasefire and directives from the International Court of Justice urging measures to prevent genocide and alleviate the dire humanitarian situation in Gaza and Lebanon.

In Lebanon, at least 3,243 people have been killed and 14,134 others wounded in Israeli attacks since the war on Gaza began on October 7, 2023.

The Lebanese resistance movement Hezbollah opened a support front for Palestinians in Gaza only a day after the Israeli regime unleashed its genocidal war on the besieged territory.

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News Network
November 17,2024

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An Israeli airstrike on the office of Syria’s Baath party in Lebanon’s capital Beirut has killed the Lebanese resistance movement Hezbollah's Media Relations Officer, Mohammad Afif, reports say.

Lebanon's National News Agency (NNA) reported that the Israeli raid struck the Ba'ath party’s building in central Beirut district of Ras Al-Naba'a on Sunday, adding that the strike was an attempt to assassinate the leader of the resistance media front.

According to Baath Secretary-General Ali Hijazi, Afif was having a meeting in the Baath Party headquarters when Israel carried out the attack.

"Afif did not fight with weapons and did not lead a military unit in Hezbollah. Rather, he led a media unit," he said.

Reuters, Sky News, Al Jazeera and a number of Henrew-language media reported that Afif was killed in the Israeli strike.

However, Hezbollah has not yet confirmed Afif’s death or whether he was present at the site or not.

Earlier, the Lebanese Health Ministry said at least one person was killed and three others injured after an Israeli strike targeted a central district in Beirut.

Lebanon's al-Mayadeen television network reported that five people were killed in the attack.

The latest development came after Afif said Hezbollah was behind the Caesarea operation and targeting Netanyahu’s home during a speech at the Ghobeiry area in the southern suburbs of Beirut on October 22.

This was the second assassination attempt on Afif in the last two months, after he survived an attack on the Hezbollah media relations office several weeks ago.

Israel launched a ground assault and massive air campaign against Lebanon in late September after a year of exchanging fire across the Lebanese border in parallel with the Gaza war.

At least 3,287 people have been killed in Israeli strikes in Lebanon over the past year, with the vast majority in the past seven weeks. Another 14,222 have been wounded, mostly women and children.

In response to the ongoing aggression, the Lebanese resistance movement Hezbollah has been staging hundreds of retaliatory strikes against the occupied Palestinian territories and the Israeli forces trying to advance on southern Lebanese areas.

The movement has vowed to sustain its strikes until the regime ends the escalation.

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News Network
November 12,2024

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The Palestinian Hamas resistance movement says its fighters have killed at least 20 Israeli soldiers in northern parts of the besieged Gaza Strip in just two days, in retaliation for the occupying regime’s genocidal war on the Palestinian territory.

In a statement on Monday evening, Hamas said that fighters of its military wing, al-Qassam Brigades, “killed at least five occupation soldiers” in northern parts of the coastal territory earlier in the day.

It added that Hamas fighters also killed 15 Israeli soldiers in the war-ravaged region on Sunday.

The resistance movement’s “qualitative operation … confirms once again the failure of the criminal Zionist entity to suppress and eradicate the Palestinian resistance, which continues to direct qualitative strikes against its terrorist soldiers,” Hamas further said on its Telegram channel.

Palestinians have increased their resistance operations in the face of intensified Israeli aggression in northern Gaza that has claimed the lives of more than 1,000 over the past weeks.

“Our valiant resistance is waging a war of attrition with the criminal enemy, inflicting daily losses on its soldiers and vehicles, and all of [Israeli prime minister Benjamin] Netanyahu’s bets and dreams of achieving any of his goals are failing,” the Gaza-based resistance movement added.

Hamas also vowed that Israel’s ongoing crimes and aggression against Gaza would be met with increased resistance and painful strikes, which will continue until the aggression against Palestinians ends and the regime fully withdraws from the blockaded territory.

As the war in Gaza enters its 14th month, the Health Ministry reports that Israeli attacks have killed at least 43,603 Palestinians and wounded 102,929 others.

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