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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

Trump says he is ‘not frustrated’ with Netanyahu over war in Gaza

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Washington, May 17: US President Donald Trump has said that he is not frustrated with Israeli Prime Minister Benjamin Netanyahu, as the war against Hamas in Gaza persists.

“No, look, he’s got a tough situation. You have to remember, there was October 7 that everyone forgets. It was one of the most violent days in the history of the world, not the Middle East, the world, when you look at the tapes,” Trump told Fox News’ Bret Baier in an interview from Abu Dhabi.

“That problem should have never happened.”

Trump did not stop in Israel during his first official foreign trip to the Middle East, where he travelled to Saudi Arabia, Qatar and the United Arab Emirates.

Baier asked Trump if he thinks Netanyahu believes a potential nuclear deal with Iran is bad for the region, as the administration engages in negotiations.

“Bibi, he’s an angry man, and he should be because of October 7, and he’s been hurt badly by that, but in another way, he’s been sort of helped because I think he’s fought hard and bravely,” Trump responded.

Trump, who has repeatedly said that Gaza should be taken over by the US and developed, reiterated that the region should become a “freedom zone”.

“Gaza is a nasty place. It’s been that way for years. I think it should become a free zone, you know, freedom, I call it a freedom zone,” the US President said.

“They have Hamas. Everybody is being killed all over the place. I mean, you ever see, you talk about crime stats? It’s a nasty place.”

President Trump signalled on Friday that he wants the US to help take care of the situation in Gaza after a further wave of intense Israeli airstrikes overnight, saying “a lot of people are starving” and that he expected “a lot of good things” in the next month.

“I think a lot of good things are going to happen over the next month, and we’re going to see, we have to help also out the Palestinians,” Trump told reporters aboard Air Force One on Friday as he returned to the US after his Middle East trip.

When asked by a reporter whether he supported Israeli plans to expand the war in Gaza, the President responded: “You know, a lot of people are starving on Gaza, so we have to look at both sides.”

“But we’ll, we’re going to do a good job,” he added.

Earlier on Friday, speaking in the United Arab Emirates on the last leg of his visit to three Gulf nations, Trump said: “We’re looking at Gaza, and we got to get that taken care of. A lot of people are starving. A lot of people. There’s a lot of bad things going on.”

The Israeli military intensified operations across Gaza on Thursday, killing more than 100 people and pledging to continue bombings as Trump suggested establishing a “freedom zone” in the enclave.

Many of the casualties were in Jabalya in northern Gaza and in Khan Younis in the south, according to Gaza Civil Defence.

On Thursday, the US President reiterated his desire to take over the Gaza Strip, telling a business roundtable in Qatar that the US would “make it a freedom zone”.

Asked if the three countries he visited in the Middle East would be part of the solution, Trump said: “I spoke to all three of them, they would absolutely be. I mean, they’re really rich and really, really, really, even more than rich, they’re good people, and they would help. And so, money is not even the problem. You got to get countries to say, yes, take them.”

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India hosts UN panel on Lord Buddha’s teachings to mark International Day of Vesak

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New York, May 16: The Permanent Mission of India to the United Nations in New York commemorated the International Day of Vesak on Friday with a distinguished panel discussion titled ‘Teachings of Gautama Buddha – a Path to Internal and Global Peace.’

The event drew participation from high-level diplomats, scholars, and spiritual leaders, reaffirming the enduring relevance of Lord Buddha’s teachings in addressing contemporary global challenges.

Announcing the event on its official social media handle, the Mission tweeted on Friday: “IndiaUNNewYork organised a Panel Discussion on ‘Teachings of Gautama Buddha – a Path to Internal and Global Peace’ to commemorate the International Day of Vesak.”

The panel featured Permanent Representatives and senior diplomats from a host of Buddhist-majority nations including Vietnam, Lao PDR, Thailand, Bhutan, Mongolia, Cambodia, Nepal, Sri Lanka, and Russia. Their presence underscored the shared spiritual and cultural heritage that unites these countries and the global resonance of Buddhist values.

India’s Permanent Representative to the UN, Ambassador Parvathaneni Harish, opened the session with remarks emphasising the universal appeal of the Buddha’s message.

“Lord Buddha’s message of compassion, non-violence and his wisdom offer a path to inner and global peace, in a world beset with crisis and suffering,” he stated, drawing attention to the urgent need for spiritual grounding in modern geopolitics.

Prof. Abhay Kumar Singh, Interim Vice-Chancellor of Nalanda University, an institution with deep historical ties to Buddhism, highlighted Lord Buddha’s timeless teachings of peace and compassion. Meanwhile, Professor Santosh Kumar Raut provided insights into how Buddhist philosophy could help humanity navigate the pressing challenges of the 21st century.

Vesak, the most sacred day for millions of Buddhists worldwide, marks the birth, enlightenment, and passing of Gautama Buddha, all of which occurred on the full moon day in the month of May.

The UN General Assembly, through Resolution 54/115 in 1999, officially recognised the International Day of Vesak to honour Buddhism’s profound contribution to global spirituality and peace.

The event served as a reminder that the path shown by the Buddha over 2,500 years ago continues to illuminate the journey towards personal transformation and collective harmony, ideals that resonate more than ever in the present era.

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Freed Israeli-American hostage Edan Alexander returns to Israel from Gaza

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Jerusalem, May 13: Israeli-American hostage Edan Alexander arrived in Israel after being released from Gaza, where he was held in Hamas captivity for 19 months, Israel’s Defence Ministry said in a statement.

Alexander arrived at southern Israel’s Re’im military base adjacent to the Gaza Strip to reunite with his family, who landed only a few hours earlier from the United States, Xinhua news agency reported.

A photo taken earlier in Gaza showed Alexander, wearing a black T-shirt and a baseball cap, being accompanied by armed Hamas militants and a woman from the Red Cross during a handover process.

Alexander was released following direct talks between Washington and Hamas.

US President Donald Trump welcomed the release, writing in a post on his Truth Social platform: “Edan Alexander, the last living American hostage, is being released. Congratulations to his wonderful parents, family, and friends!”

Israeli Prime Minister Benjamin Netanyahu said in a statement that the country “embraces” Alexander. He stressed that the Israeli government “is committed to the return of all hostages and missing persons — both the living and the fallen,” vowing to “act tirelessly until they are all brought home.”

Israeli Health Ministry Spokeswoman Shira Solomon said Alexander was undergoing an initial medical assessment at the reception facility in Re’im base and would later be transferred to Ichilov Hospital in Tel Aviv.

“Medical teams and staff at the hospital are well-prepared to provide all necessary medical, psychological, and rehabilitative care for Alexander, as well as support for his family and any other needs that may arise,” Solomon said in a statement.

In Hostages Square, a public plaza located in front of the Tel Aviv Museum of Art and renamed following the Hamas-led October 7, 2023 attack, hundreds gathered to watch Alexander’s return on large screens. They held up photos of the freed hostage and signs reading: “Only an end to the war in Gaza would secure the release of the remaining hostages.”

Hamas sources earlier confirmed that Alexander was handed over to a team from the International Committee of the Red Cross at a designated location in southern Gaza’s Khan Younis city. He was then transferred to the buffer zone controlled by the Israeli army before heading to the Re’im military base.

Eyewitnesses in Khan Younis reported that Israeli military activities in the area were halted before and during the release, and the atmosphere remained relatively calm.

In a press statement, Al-Qassam Brigades, Hamas’ armed wing, said Alexander was released as part of the efforts made by mediators to achieve a ceasefire, open the crossings, and allow aid and relief to reach Gaza.

Alexander is a US-born soldier serving in the Israeli army. He was abducted on October 7, 2023, in the Hamas-led raid on southern Israel that resulted in the kidnapping of 251 people and the killing of about 1,200 others.

His return marks an important step toward a new round of negotiations on a Gaza truce deal that will, after the return of Alexander, also secure the release of the remaining 58 hostages in Gaza, of whom 20 are believed to be alive. The negotiations are expected to begin on Tuesday with mediation from Qatar, Egypt, and the US. Netanyahu’s office announced that an Israeli delegation will travel to Doha for talks, but stressed that the talks would take place “only under fire.”

Since October 2023, Israeli fire has killed 52,862 Palestinians and injured 119,648 others in Gaza, according to local health authorities on Monday.

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