International News
Opening bell: Markets open in green amid positive global cues; Sensex at 62,889.90, Nifty at 18,609.90
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The markets on Monday opened higher with Sensex at 62,889.90, up by 388.21 points and Nifty was at 18,609.90 with a gain of 110.55 points. Mahindra and Mahindra, TCS, HDFC, IndusInd Bank and Wipro were the top gainers in the morning session.
The stocks of Adani Transmission, Rail Vikas Nigam, IRCTC, Torrent Power and NHPC will be in focus as the companies are announcing the results for the last quarter today.
Markets on Friday
Thanks to increased buying by Foreign Institutional Investors, Sensex surged 623 points to end the week at 62,496. Nifty also went up by 0.94 per cent to hit 18,495 points at close, buoyed by a rebound for global markets and gains made by US stocks.
Global markets
Wall Street shares on Friday after being on the lower end rose sharply as the US debt ceiling progressed and chip stocks gained for a second straight day due to optimism surrounding AI. The Nasdaq Composite rose by 2.19 per cent to 12,975.69, S&P 500 closed higher at 4,205.45 and the Dow Jones Industrial Average rose to 33,093.34.
With the US debt negotiations reaching closer to a deal the Asian markets on Monday were in green. Singapore’s SGX Nifty saw a gain of 159 points at 18,707, South Korea’s KOSPI was comparatively flat with a gain of 4.12 points at 2,558.81 and Japan’s Nikkei 225 was in the green with a gain of 159 points at 31,330.63. However, Hong Kong’s Hang Seng was at 18,723.72 with a drop of 23.20 points.
Oil prices
Oil prices on Monday were were higher after as United States leaders reached a tentative decision to avoid debt default. Brent crude futures went up by 39 cents to $77.34 per barrel and US West Texas Intermediate crude was at $73.12 per barrel with a gain of 45 cents.
Rupee
Indian rupee on Monday opened flat at 82.58 per dollar against Friday’s close of 82.57.
International News
Arab leaders meet in Saudi Arabia to discuss Palestinian issue, Gaza developments
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Riyadh, Feb 22: Leaders of Egypt, Jordan, Saudi Arabia, the United Arab Emirates (UAE), Qatar, Kuwait, and Bahrain met in Saudi Arabia’s capital Riyadh to discuss the Palestinian issue and the developments in the Gaza Strip, the official Saudi Press Agency (SPA) reported.
While the report described the gathering as a “consultative brotherly meeting” without providing details, media reports suggested that the discussions held on Friday were meant to focus on Gaza’s post-war reconstruction to counter a recent proposal by US President Donald Trump to relocate Palestinians from the enclave and turn it into the “Riviera of the Middle East,” a plan widely rejected by Arab nations.
Umer Karim, an expert on Saudi foreign policy, called the summit the “most consequential” in decades for the wider Arab world and the Palestinian issue.
Trump triggered global outrage when he proposed the United States “take over the Gaza Strip” and relocate its 2.4 million people to neighbouring Egypt and Jordan.
According to SPA, the meeting is at the invitation of Saudi Crown Prince Mohammed bin Salman Al Saud, and attended by Jordanian King Abdullah II, Qatari Emir Sheikh Tamim bin Hamad Al Thani, Egyptian President Abdel-Fattah al-Sisi, UAE President Sheikh Mohamed bin Zayed Al Nahyan, Bahraini Crown Prince Salman bin Hamad Al Khalifa, and Kuwaiti Emir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah.
During the meeting, the leaders also expressed their support for the upcoming emergency Arab League summit, scheduled to take place in Cairo on March 4, to address the latest Palestinian developments.
The Gaza Strip is largely in ruins after more than a year of war between Israel and Hamas, with the United Nations recently estimating that rebuilding would cost more than $53 billion.
International News
China hails India’s powerful, rising influence in Asia
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New Delhi, Feb 20: In yet another sign of thawing ties between the two countries, a Chinese diplomat on Thursday hailed India’s ascent in the Asia Power Index that was released last year.
“India has become the 3rd most powerful and influential country in Asia, after the US and China,” Yu Jing, spokesperson of the Chinese Embassy in India, posted on X citing the 2024 Asia Power Index by Australia’s Sydney-based Lowy Institute.
The report released in September 2024 had placed India as the third-most powerful nation in Asia, behind only the United States and China, highlighting India’s remarkable improvement in various categories, particularly in Diplomatic Influence, which surged due to Prime Minister Narendra Modi’s increased international engagements.
As India overtook Japan to grab the third spot in the Asia Power Index, several leaders attributed the country’s ascent to PM Modi’s visionary leadership and global strategy.
“India’s rise is no accident. This is the direct result of Prime Minister Modi’s aggressive diplomatic strategy and his bold ambitions to reshape India’s place in the world. Without his leadership, India would still be languishing behind, but today, we see a nation on the verge of superpower status,” stressed Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri.
According to the Lowy Institute, the Asia Power Index consisted of eight measures of power, 30 thematic sub-measures and 131 indicators. The Index ranked 27 countries and territories in terms of their capacity to shape their external environment — its scope reaching as far west as Pakistan, as far north as Russia, and as far into the Pacific as Australia, New Zealand, and the United States.
The government listed three major factors behind India’s rise in the index, including economic growth, future prospects and diplomatic influence.
“Prime Minister Narendra Modi’s leadership has gained greater international recognition. India’s non-aligned strategic position has made it possible for New Delhi to effectively navigate complex international waters. India ranked sixth in terms of diplomatic interactions in 2023, reflecting its active participation in multilateral forums,” the Ministry of Information and Broadcasting said, last year.
The strained relations between India and China are showing some improvement following the meeting between PM Modi and Chinese President Xi Jinping held in Kazan in October 2024.
Last month, Foreign Secretary Vikram Misri visited Beijing for a meeting of the Foreign Secretary-Vice Foreign Minister mechanism between India and China on January 27.
The two sides not only decided to resume the Kailash Mansarovar Yatra in the summer of 2025 but also agreed, in principle, to resume direct air services between the two countries.
Analysts reckon that the Chinese diplomat’s post on Thursday could be part of both countries deciding to utilise 2025 – the 75th anniversary of the establishment of India-China diplomatic relations – to redouble public diplomacy efforts, create better awareness about each other and restore mutual trust and confidence among the public, as it was agreed during Foreign Secretary Misri’s visit to Beijing, last month.
International News
Iran’s supreme leader says US ‘foolish’ plans for Gaza to lead nowhere
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Tehran, Feb 19: Iran’s Supreme Leader Ali Khamenei said that US “foolish” plans for Gaza and Palestine “will lead nowhere.”
“Those who claimed that they would destroy resistance in a short period of time are now receiving their prisoners from the resistance fighters in small groups and releasing a large number of Palestinian captives in return,” Khamenei said when meeting with visiting Secretary-General of the Palestinian Islamic Jihad movement Ziad al-Nakhalah, Xinhua news agency reported quoting a statement by Khamenei’s website.
As “global public opinion is now in favour of Palestine,” no plan will succeed without the consent of the resistance and people of Gaza, he said.
For his part, al-Nakhalah thanked Iran’s constant support for the resistance in Gaza, which he said managed to achieve “great victories” over the United States and the West despite the unequal balance of power.
US President Donald Trump proposed recently to transfer Gaza’s Palestinian population to neighboring countries, stating that Gazans who left will not be allowed to return.
The proposal, strongly supported by Israeli Prime Minister Benjamin Netanyahu, has met continuous regional and international outcry.
Earlier on February 10, Israeli Prime Minister Benjamin Netanyahu said that Israel is discussing US President Donald Trump’s “revolutionary, creative vision” on the Gaza Strip, the one that Trump is “very determined to implement.”
Trump’s plan “opens up many possibilities for us,” Netanyahu told a cabinet meeting after his return from Washington to Israel, according to a statement released by Netanyahu’s office.
“For an entire year, we have been told that the ‘day after’ (in Gaza) must involve the PLO (the Palestine Liberation Organization), the Palestinian Authority … President Trump has presented a completely different vision, one that is much better for the State of Israel,” Netanyahu said.
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