Business
Indian equities rise further in afternoon trade; Sensex up around 1,400 pts

After bloodbath on Thursday, India’s key indices — S&P BSE Sensex and NSE Nifty50 — recovered considerably on Friday in the afternoon trade.
Thursday’s sharp fall was triggered after Russia announced a military operation in Ukraine. Sensex settled 4.7 per cent or 2,702 points down at 54,529 points, whereas Nifty 4.8 per cent down, or 815 points down at 16,248 points.
On Friday, at 12.55 p.m., Sensex was 2.6 per cent or 1,392 points up at 55,922 points, whereas Nifty 2.6 per cent or 421 points up at 16,669 points.
According to V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services: “Market has corrected significantly with Nifty, Nifty Midcap and Nifty Smallcap declining sharply by 12 per cent, 20 per cent and 22 per cent, respectively. This has made valuations fair with Nifty trading around 17 times FY23 earnings.”
“But we are in the context of a war with a high level of uncertainty. A lot will depend on whether this will be a short war or will it get prolonged. If it turns out to be a short war with Russia succeeding in putting a pro-Russian government in Ukraine soon, markets are likely to bounce back.”
On the other hand, if the war gets prolonged, the uncertainty will impact markets, Vijayakumar added.
International
Iran strikes Israel with fresh missile attack hours after Trump’s ceasefire claim

Tel Aviv, June 24: Hours after US President Donald Trump declared a ceasefire had been achieved, Israel sounded missile sirens and urged citizens to take shelter following new strikes launched from Iran.
The Israel Defense Forces (IDF) confirmed incoming missile threats, stating that defensive units were actively working to intercept them.
Emergency services reported that a ballistic missile had hit a building in Beersheba.
While no immediate injuries were recorded, Magen David Adom confirmed that teams had been deployed to the scene to assess the impact.
The missile barrage came shortly after Iran’s announcement that it had halted all military operations against Israel as of 4 a.m. local time.
However, Iranian authorities also clarified that their ceasefire was conditional — dependent on Israel ceasing its own military actions.
This apparent contradiction followed Trump’s assertion on his social media platform, Truth Social, that a ceasefire had been reached.
He made the claim after Iran fired missiles at US military bases in Qatar. Trump posted that both Israel and Iran had agreed to halt hostilities.
However, Tehran swiftly denied receiving any formal ceasefire agreement or proposal from the United States. Iran’s Foreign Minister reiterated that Israel had initiated the war and added that Tehran had paused its military operations from 4 a.m. local time, contingent on reciprocal de-escalation from Tel Aviv. Israel has not issued any official response to Trump’s ceasefire announcement.
The conflict between Iran and Israel, now in its 12th day, began after Israel launched “Operation Rising Lion,” targeting Iranian military and nuclear infrastructure.
Since then, the region has seen continuous missile exchanges between the two nations. Iran has reportedly suffered approximately 400 casualties, while Israel has recorded around 24 deaths.
The situation intensified further when the US entered the conflict, launching precision strikes on three major Iranian nuclear facilities –Fordow, Natanz, and Esfahan — prompting heightened alerts across the Middle East.
International
Three killed, several wounded as Iranian missile hits apartment complex in Israel

Tel Aviv, June 24: Three people were killed and several others injured after an Iranian ballistic missile struck an apartment complex in Beersheba, as Iran launched eight missiles targeting central and southern Israel on Tuesday.
The building in Beersheba was reduced to rubble following the direct impact.
Additionally, emergency responders from Magen David Adom confirmed three fatalities.
Several others wounded in the blast were transported to nearby hospitals and care centres for treatment, though no official tally of the injured has been released.
Shortly after the strike, additional missile sirens sounded across central Israel and parts of the south, the Israel Defense Forces (IDF) said, indicating yet another wave of incoming projectiles.
The latest round of strikes came shortly after Iran declared a unilateral halt to military operations against Israel, effective 4 a.m. local time.
However, Iranian authorities stressed that this ceasefire was conditional — hinging entirely on Israel halting its own offensive actions.
The contradiction became evident when Trump claimed that both sides had agreed to a ceasefire, a claim Tehran quickly denied.
However, Iran’s Foreign Ministry swiftly denied receiving any formal ceasefire proposal from Washington. Tehran reiterated that it had temporarily paused its military operations, contingent upon Israel ceasing its own strikes.
As of now, Israel has not officially responded to Trump’s ceasefire declaration.
The ongoing war, now in its 12th day, erupted after Israel launched “Operation Rising Lion,” targeting Iranian military and nuclear assets. In retaliation, Iran has fired multiple waves of ballistic missiles at Israeli territory.
According to estimates, nearly 400 people have been killed in Iran and around 24 in Israel.
The conflict widened significantly when the United States entered the fray with direct military strikes on Iran’s key nuclear facilities in Fordow, Natanz, and Esfahan.
International
Striking Iranian regime targets with unprecedented force: Israel Defence Minister

New Delhi, June 23: Israel’s Defence Minister Israel Katz announced Monday that the Israel Defence Forces (IDF) are currently striking with “unprecedented force” regime targets and governmental repression bodies in the heart of Tehran.
“In accordance with the directives of Prime Minister Benjamin Netanyahu and myself, the IDF is now attacking with unprecedented force regime targets and government repression bodies in the heart of Tehran, including the Basij headquarters, Evin prison for political prisoners and regime opponents, the ‘Israel Destruction’ clock in Palestine Square, the Revolutionary Guards’ internal security headquarters, the ideology headquarters, and other regime targets,” Katz posted on X.
He added, “For every shot fired at the Israeli home front, the Iranian dictator will be punished. The attacks will continue with full force. We will keep acting to protect the home front and defeat the enemy until all war goals are achieved.”
Meanwhile, Iran’s Supreme Leader Ayatollah Ali Khamenei on Monday issued a stern warning in his first reaction following US strikes on Iranian nuclear sites.
“The Zionist enemy has made a big mistake, committed a big crime; it must be punished, and it is being punished right now,” Khamenei said on X, calling the attacks “a big crime.”
The US strikes came after Israeli attacks on June 13 that targetted various locations in Iran, including nuclear and military sites, resulting in the deaths of senior commanders and nuclear scientists.
In response, Iran also launched missile and drone strikes on Israel.
Earlier that day, Israeli Prime Minister Benjamin Netanyahu reiterated the country’s determination to press on with its operations.
“Israel will continue to operate at full tilt in both Iran and Gaza,” he said, adding, “We will not stop this historic operation before we achieve our goals.”
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