Srinagar, June 7: Thousands of devout Muslims gathered across Jammu and Kashmir on Saturday to offer Eid al-Adha prayers. Peaceful congregations were also held in various cities and towns throughout the Union Territory.

Chief Minister Omar Abdullah and former Chief Minister Dr Farooq Abdullah joined the devotees in offering Eid prayers at the Hazratbal shrine on the outskirts of Srinagar city.

Hundreds of Muslims gathered at the shrine’s lawns to offer prayers. Former Chief Minister Mehbooba Mufti also offered Eid prayers at the Hazratbal shrine.

This is the holiest Muslim shrine in J&K as it houses the Holy Relic of the Prophet.

Authorities had made adequate arrangements for security, sanitation, and healthcare at different places for the devotees in Srinagar city and all other cities and towns across J&K.

In Jammu city, the main Eid congregation was held at the Eidgah grounds in the Residency Road area of the city. Hindu and Sikh friends of Muslims were the first to greet them at the end of the Eid prayers in Jammu, Poonch & Rajouri districts.

Large Eid congregations were also held in Budgam, Baramulla, Kupwara, Bandipora, Pulwama, Kulgam, and Shopian districts.

Children wearing new clothes accompanied their fathers to various Eidgahs, and after the prayers, Muslims embraced each other to carry forward the universal message of inclusive brotherhood of Islam.

After the Eid prayers, the ritual of offering animal sacrifices will begin across J&K.

Animal sacrifices are part of Eid al-Adha as these commemorate the greatest sacrifice offered by Prophet Abraham, who, under orders of Allah, decided to sacrifice his son, Ismail. As the blindfolded father tried to move the blade on the son’s throat, a lamb from heaven replaced Ismail under the knife.

When Prophet Abraham unfolded himself, he saw Ismail smiling at a distance when a lamb had substituted him for the sacrifice.

Muslims believe that when Prophet Abraham returned home handholding his son, there was a joyous celebration in the family — Allah had accepted Abraham’s sacrifice and also saved Ismail’s life.

Eid al-Adha is the commemoration of that great event in Islamic history, and each year, the Hajj pilgrimage comes to an end with the pilgrims offering animal sacrifices in Mecca.

The basic spirit behind Eid al-Adha is that the outcome of every event and the destiny of every human being are in the hands of God, with whatever name the faithful choose to remember Him.

It is customary for Muslims to send mutton to their relatives, neighbours, and the poor on this auspicious day so that nobody is left out of the festivities of Eid.

Mumbai, June 7: After starting the week with consolidation, the domestic market exhibited resilience amid concerns over tariff wars and geopolitical escalations, analysts said on Saturday.

Markets consolidated for the third consecutive week but managed to end higher by nearly a per cent, buoyed by favourable domestic cues.

After remaining range-bound for most of the week, benchmark indices surged sharply on Friday and settled near the week’s high, with the Nifty closing at 25,003 and the Sensex at 82,118.99.

“The highlight of the week was the RBI’s policy announcement, which took the market by surprise. The central bank implemented a sharper-than-expected 50 bps repo rate cut and a 100 bps CRR reduction, signalling a strong pro-growth stance. Notably, the policy stance was also shifted from ‘accommodative’ to ‘neutral’ — a move that came sooner than expected,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.

By front-loading its easing measures, the RBI has underscored its commitment to reviving domestic growth amid global uncertainties. While such a bold approach was expected to unfold gradually, this decisive action reinforces confidence in the central bank’s intent to support economic recovery while managing inflation risks.

This week, sectoral performance was broadly positive, with rate-sensitive sectors witnessing strong buying interest. Realty, auto, and banking stocks led the rally, reflecting improved outlooks for credit growth and consumer sentiment. Financials and NBFCs also gained, as lower interest rates are expected to enhance borrowing conditions.

Conversely, IT stocks underperformed due to persistent global uncertainties, particularly in the U.S. and European markets. In the broader markets, both midcap and smallcap indices outperformed the benchmarks, reflecting a risk-on sentiment among investors, with gains ranging between 2.8 per cent and 4 per cent.

According to Vinod Nair, Head of Research, Geojit Investments Ltd, bolstered by supportive macro indicators such as strong Q4 GDP, GST collection and a favourable monsoon, investors focused on domestically oriented and interest-sensitive sectors such as financials, real estate, retail and FMCG, which saw strength, supported by strong institutional inflows.

Profit booking was visible during the week on account of the ongoing global uncertainty. Mid and small caps generally outperformed large caps, driven by better earnings and valuations.

“While China’s rare earth restrictions pose long-term risks and investors await the inflation print in the US, the aggressive RBI rate cut, backed by cooling inflation and a steady GDP outlook, is likely to support investor confidence amidst the ongoing global uncertainties,” Nair noted.

Going forward, market participants will focus on key macroeconomic data for further cues. High-frequency indicators such as CPI inflation will be closely tracked to gauge demand trends and the central bank’s next steps, said experts.

New Delhi, June 7: India has issued a Notice to Airmen (NOTAM) for a major Indian Air Force (IAF) exercise scheduled to take place near the southern sector of the India-Pakistan International Border in Rajasthan from Saturday, June 7, to Sunday, June 8.

The exercise is part of the IAF’s regular operational preparedness and will be conducted in airspace near the border.

According to the NOTAM, the aerial drill will commence at 3:30 p.m. on June 7 and conclude at 9:30 p.m. the following day.

During this period, airspace over the designated region will be restricted to ensure the safe and seamless execution of air operations.

An official from the Indian Air Force confirmed that the combat exercises will feature a range of advanced air assets, including frontline fighter jets such as Rafale, Mirage 2000, and Sukhoi-30, in addition to surveillance platforms and other support systems.

Although the Ministry of Defence has not officially connected the exercise to ongoing geopolitical tensions, the timing and location of the drill carry notable implications.

This sector has become a focal point amid rising tensions following a deadly cross-border terror attack in Pahalgam. That incident triggered reciprocal airspace restrictions by both India and Pakistan, significantly straining bilateral relations.

India recently closed its airspace to all Pakistani-registered and military aircraft from April 30 to May 23.

This action followed Pakistan’s earlier decision to bar Indian flights from its airspace, marking an escalation in diplomatic and military frictions.

The situation remains tense along the Line of Control (LoC) in Jammu and Kashmir, where frequent ceasefire violations by Pakistani troops have prompted firm retaliatory responses from Indian forces.

This comes against the backdrop of India’s ‘Operation Sindoor’, which was launched on May 7, in retaliation to the terror attack in Pahalgam, where terrorists killed 26 innocent people.