Monday, March 2, 2026

Alipura residents remember Khamenei’s 1981 visit| India News

Alipura residents remember Khamenei’s 1981 visit| India News

Thousands gathered in Alipura of Karnataka’s Chikkaballapur district on Sunday to mourn the death of Iran’s Supreme leader Ali Khamenei, even as they recalled his visit to the village in 1981 to inaugurate a hospital built in collaboration with the Iranian government.

Alipura, formerly known as Bellikunte, traces its present identity to migration during the Bijapur Adil Shahi period.
Alipura, formerly known as Bellikunte, traces its present identity to migration during the Bijapur Adil Shahi period.

The facility that still bears his name.

Shops were shuttered and black flags lined the streets of Alipura, about 70 kilometres from Bengaluru, as community members dressed in black took out a procession led by the Anjuman-e-Jafaria Committee.

“We held a meeting with the Anjuman-e-Jafaria Committee members. They have planned a prayer meeting on Sunday afternoon, followed by a procession protesting the death of Khamenei,” said Kushal Chouksey, Superintendent of Police for Chikkaballapur district.

Archival references and photographs published on the Iranian leader’s official website show him being received by crowds in Bengaluru and Alipura in 1981. Local residents recount the visit as one that “strengthened the spiritual bond between our people and Iran.”

“When we were young, Khamenei visited our village, and since then Alipur has been called the ‘Baby of Iran,’” said Ari Askil, president of the Karnataka State Human Rights Committee.

Alipura, formerly known as Bellikunte, traces its present identity to migration during the Bijapur Adil Shahi period. With a population estimated between 20,000 and 25,000, roughly 90% of residents are Shia Muslims, and about 100 Hindu families.

The village maintains longstanding religious, educational and familial ties with Iran — more than 50 residents are currently pursuing religious studies there, and others are enrolled in medical programmes or engaged in business.

“Our relationship with Iran is not just about trade but deeply rooted in religion. Mashhad in Iran is one of the holiest places for Shia Muslims, and many from our village have studied and lived there,” said Shafiq, a resident.

Nathiq Alipuri, a member of the Karnataka Urdu Academy, said the news of Khamenei’s death has shaken the community. “We strongly condemn the attack on Iran and the killing of Ayatollah Ali Khamenei. This news has deeply shocked and saddened our entire community. He was a voice for the oppressed, especially the Palestinian people. His loss is not just for Iran but for Muslims across the world,” he said.

Maulana Syed Ibrahim, a local resident, criticised the silence from the Islamic countries over the “unprovoked” attack. “The attacks on Iran by the US and Israel are unprovoked and highly condemnable. It is unfortunate that many Islamic countries remain silent instead of standing united,” he said. “We are conducting peaceful protests with police permission and observing mourning in accordance with the law.”

Community leaders in Alipura have announced a three-day observance marked by special prayers and Quran recitations. Emotional scenes unfolded near the local mosque, where residents gathered to offer tributes. Many were seen in tears as they recalled Khamenei’s connection to the village.

The administration said senior police officers and additional security personnel had been deployed in the village to maintain order during the mourning period.

Defence, financials, discretionary in structural sweet spot: SAMCO MF's Viraj Gandhi

Defence, financials, discretionary in structural sweet spot: SAMCO MF’s Viraj Gandhi

Despite elevated headline valuations, select sectors continue to offer compelling structural growth visibility. Viraj GandhiCEO of SAMCO Mutual Fundbelieves defence, financials and pockets of consumer discretionary are positioned to benefit from policy support, balance sheet strength and evolving demand dynamics. He advocates a momentum-led, risk-calibrated approach in navigating the current market cycle.

Edited excerpts from a chat:

What is your assessment of the current market cycle, and where do you believe we stand in terms of valuations versus earnings visibility?

The Indian markets continue to appear expensive on a headline basis as they are trading above their median valuations. However, there are pockets of opportunities across sectors and market caps that could benefit from strong domestic demand and policy support. Earnings visibility has been improving for sectors such as financials, industrial products, auto, and select consumer categories, while pockets like defense, and infrastructure continue to offer long-term growth potential. External factors such as global trade tensions, tariff concerns and India being viewed as an Anti AI trade has weighed on the sentiment of the market. India’s pursuit of signing free trade agreements (FTAs) with different countries like the EU and New Zealand is creating new avenues for trade, investment, and market diversification, which could support earnings growth over the medium term. We believe that the market is currently in a phase where broad valuations may appear rich, but earnings visibility is improving, and pockets of opportunities continue to exist for investors who focus on quality, growth potential, and sectors positioned to benefit from both domestic and global trends.

What stood out for you in the Q3 earnings season? Are you more hopeful of broad-based growth than before?

What stood out this Q3 earnings season was the divergence between underlying operating performance and the direction of earnings revisions. Corporate Earnings this quarter were broadly in line with expectations. Several consumption-linked and cyclical sector companies witnessed a growth in top-line with operating margins broadly stabilized or expanded and profit growth remained healthy. Banks and NBFCs showed signs of stability in asset quality and profitability metrics and industrial and defence names continued to benefit from execution momentum and policy tailwinds. Earnings downgrades in a couple of sectors were not driven purely by weak quarterly performance but due to a confluence of external factors such as currency volatility, commodity price swings, competitive intensity in certain segments, and global volatility. Management commentary indicated that domestic demand showed early signs of improvement following policy support, with autos and select consumer categories reflecting better business commentary. However, competitive intensity remains elevated in some sectors such as paints, consumer durables and telecom. IT services delivered a steady quarter with management commentary highlighting the concerns around AI related disruptions. Overall, the quarter reinforced a cautiously constructive view operationally, corporate India appears to be on a firmer footing as compared to previous quarters, but forward earnings expectations are still adjusting to a complex mix of macro, regulatory and competitive factors.

Which sectors appear structurally well-positioned over the next three to five years, and why?

Sectors that are beneficiary of secular trends and policy support given by the government appear structurally well positioned over the next three to five years. One prominent theme is defence. There is a multi-year potential for businesses in this sector due to rising government spending on defense equipment modernization, local manufacture, and indigenization. Strategic Partnerships with global players are improving technological access.


Furthermore, companies that are involved in the manufacturing of advanced electronics, aerospace components, and systems integration are well positioned to benefit from these structural tailwinds.
Pockets of consumer discretionary is another structurally attractive sector, reflecting changing preferences of the consumers as per capita income improves, urbanization and digital adoption encourages consumers to spend more on upgrading and preimmunizing their lifestyles.Banks and NBFCs are improving on asset quality, healthy credit growth, and increasing penetration across retail and corporate segments. The combination of robust balance sheets, policy support, and innovation in digital lending and payments provides a structural tailwind for earnings.

What is your outlook on financials, particularly in the context of credit growth, asset quality and margin sustainability?

The outlook on the financial sector remains constructive given improvement of credit growth and stable operating conditions. There are early signs that corporate lending is picking up which is expected to continue. Deposit growth continues to remain a challenge, and a higher reliance on bulk deposits could keep the cost of funds slightly elevated. Banks should be able to maintain their stable margins given the repricing of MCLR linked loans. Increased collection effectiveness and stress level mitigation, especially in unsecured portfolios, ensure that asset quality and credit costs continue to be controlled. Management commentary suggests that the second half of the year should be better, as growth is expected in both lending and controlled credit costs, which will improve their profitability. This creates a favorable backdrop for banks, balancing growth opportunities with prudent risk management.

How should investors approach the IT and digital ecosystem amid AI-led disruption and shifting global tech spending?

Investors should adopt a wait and watch approach in this space. AI is changing business models of traditional IT companies. The pace of AI-driven change is unprecedented in nature. Global hyperscalers are committing capex more than $600 billion towards AI related infrastructure, including data centers. As a result of these developments within the field of AI, companies are now investing more in automation and artificial intelligence as compared to traditional IT services. Companies who successfully implement AI stand to benefit from these changes, while others could lag, thereby impacting their revenue and profit margins. For Indian IT, the structural shift presents a dual challenge. Traditional service models face pressure as automation and generative AI reduce demand for conventional software maintenance. At the same time, India’s deep talent base and growing digital capabilities provide opportunities to support global clients in AI adoption.

How are you currently positioning portfolios in terms of sector allocation, cash levels and market-cap bias?

We use momentum as a factor across our funds and allocate capital to sectors and companies based on relative price strength, growth in revenue, and accelerating earnings, while using absolute momentum to manage risk and protect capital. From a market-cap bias, positioning depends on the mandate of the scheme. In categories such as Flexicap, ELSS and Special Opportunities where the fund managers have flexibility to allocate across market caps, we have a slight bias towards mid and small caps. Sector-wise, we are positioned in BFSIAutos, Pharma and Industrial Products where we believe the balance between growth prospects and risk is favourable. These sectors offer a mix of cyclical recovery, structural tailwinds and improving profitability dynamics. On the risk management side, we actively use hedging to reduce downside risk particularly during phases where markets remain sideways or uncertain. In addition, we maintain cash in certain portfolios where near-term risk-reward warrant a more cautious stance. Overall, our approach seeks to participate in momentum-led opportunities while maintaining flexibility and prudent risk control.

Do you think that the sell-off in smallcaps we saw in last 1.5 years is done and that we will see gradual recovery in next 2 quarters?

Given the results in Q3FY26, there are encouraging signs that the extended weakness in small-caps could be stabilizing. Across a broad set of companies, revenue and profitability growth is accelerating, with smaller companies showing stronger momentum. Earnings downgrades appear to be moderating, and we expect upgrades to gradually emerge as macro conditions stabilize and companies benefit from policy tailwinds. Supportive monetary conditions due to the rate cuts done by the Reserve Bank of India should improve corporate earnings and investor sentiment. While valuations are above median levels at the broader index level, there continue to be selective pockets within this space with solid fundamentals and clear growth drivers. The combination of the above-mentioned factors suggests that small-caps could see a gradual recovery in the coming quarters.

Ahead of Market: 10 key factors that will drive stock market action on Monday

Ahead of Market: 10 key factors that will drive stock market action on Monday

India’s benchmark indices — the Nifty and the BSE Sensex — ended sharply lower on Friday amid broad-based selling pressure. Auto, financials and FMCG stocks were among the biggest laggards, while the IT sector witnessed selective buying.

In a volatile trading session, the broader Nifty fell 317.90 points, or 1.25%, to close at 25,178.65. The 30-share Sensex tumbled 961.42 points, or 1.17%, to settle at 81,287.19.

Meanwhile, the volatility gauge India VIX ended at 13.70, up 4.89% from the last closing.

Here’s how analysts read the market pulse:

Rupak De, Senior Technical Analyst at LKP Securities, said the index has declined sharply after remaining below its key short-term moving average for three consecutive sessions. It has also slipped beneath the 200-day moving average (DMA), signalling that the prevailing weakness could persist for some time.“The RSI indicator has turned sharply bearish. In the short term, the index may continue to face selling pressure, with rallies likely to be sold into. Immediate support is placed at 25,000 and 24,750, while resistance is seen at 25,370,” De said.

US markets

Frontline indices on Wall Street ended lower on Friday. The Dow Jones Industrial Average fell 521.28 points, or 1%, to close at 48,977.90. The Nasdaq Composite declined 210 points, or 1%, to settle at 22,668.20. Meanwhile, the S&P 500 also finished in the red, though with a relatively milder loss of 0.43

European Markets

European markets also reflected a cautious tone. Spain’s IBEX 35 and France’s CAC 40 declined by as much as 0.73%. Germany’s DAX ended largely flat, while the pan-European Stoxx 600 rose 0.6% and the UK’s FTSE 100 added 0.1%.

Tech View

Nilesh Jain, Vice President and Head of Technical and Derivative Research at Centrum Finverse, said the Nifty has slipped below its crucial 200-day moving average (DMA) placed at 25,350, which is now expected to act as an immediate resistance zone. The index continues to form lower highs and lower lows on the daily chart, indicating a weakening trend, he noted.
“Momentum indicators remain cautious, with the MACD signalling a sell crossover and the RSI gradually trending lower. Meanwhile, India VIX has risen 5% to around 13.50, and any further spike in volatility could intensify downside risks. The key psychological support is now seen at the 25,000 level. The broader technical structure suggests continued weakness, with pullbacks likely to encounter selling pressure,” Jain added.

Most active stocks in terms of turnover

Tejas Networks (Rs 551 crore), Redington (Rs 275), Cholamandalam Financial Holdings (Rs 262 crore), Netweb Technologies (Rs 240 crore), HDFC Bank (Rs 214 crore), State Bank of India (Rs 213 crore) and Bharti Airtel (Rs 182 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.

Most active stocks in volume terms

SpiceJet (Traded shares: 7.17 crore), Vishal Mega Mart (Traded shares: 1.34 crore), Tejas Networks (Traded shares: 1.32 crore), Redington (Traded shares: 99.63 lakh), Ola Electric (Traded shares: 63.35 lakh), Suzlon Energy (Traded shares: 62.71 lakh) and and Steel Authority of India (SAIL, Traded shares: 53.35 lakh) were among the most actively traded stocks in volume terms on BSE.

Stocks showing buying interest

Xtglobal Infotech, Tejas Networks, Shares of Sarda Energy & Minerals, VL E-Governance & IT Solutions, Avadh Sugar & Energy, Foseco India and Foseco India were among the stocks that witnessed strong buying interest from market participants.

52 Week high

On the market breadth front, 100 stocks touched their 52-week highs, while 340 stocks fell to their 52-week lows.

Among those scaling fresh 52-week highs were Aeroflex IndustriesBank of India, Bharat Forge, Cummins India, Data Patterns (India), Eicher Motors and Federal Bank.

Stocks are seeing selling pressure

Among the largecap names were Adani EnterprisesMaruti Suzuki and Bharti Airtel. Other stocks which witnessed significant selling pressure were Fusion FinanceVishal Mega Mart, Home First FinanceAngel One, R M Drip and Sprinklers Systems, Mahalaxmi Fabric Mills and Apex Frozen Foods.

Sentiment meter favours bears

Heavyweights like ICICI Bank, HDFC Bank and Bharti Airtel dragged the markets with breadth, staying negative in the overall markets. Out of the 4,369 stocks that traded on the BSE on February 27, Friday, 1,574 stocks witnessed advances, 2,633 saw declines while 162 stocks remained unchanged.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

‘India stands in solidarity’| India News

‘India stands in solidarity’| India News

Prime Minister Narendra Modi on Sunday night spoke to UAE President Sheikh Mohamed bin Zayed Al Nahyan and strongly criticised the attacks on the Gulf country.

Prime Minister Narendra Modi (ANI)
Prime Minister Narendra Modi (ANI)

He also expressed gratitude to the UAE president for looking after the Indian community living in the Gulf nation, and said New Delhi backs de-escalation, regional peace, security and stability. Follow live updates to US-Israel-Iran tensions here.

“Spoke with President of the UAE, my brother Sheikh Mohamed bin Zayed Al Nahyan. Strongly condemned the attacks on the UAE and condoled the loss of lives in these attacks. India stands in solidarity with the UAE in these difficult times,” he wrote on X.

Modi added, “Thanked him for taking care of the Indian community living in the UAE. We support de-escalation, regional peace, security and stability.”

Indian national injured in UAE

Iranian attacks across the Gulf nation over the past two days have left three people dead and 58 injured, including an Indian national who is now out of danger, officials confirmed on Sunday.

The Indian Embassy in the UAE said in a social media post that it was aware that an Indian national had been injured and was in contact with hospital authorities.

Iranian strikes in UAE

The UAE defence ministry said it intercepted 165 ballistic missiles. Of these, 152 were destroyed, while 13 fell into the sea.

The ministry also said two cruise missiles and 541 Iranian drones were taken down, including 506 that were shot down.

Iran’s Supreme Leader Ayatollah Ali Khamenei was killed in a joint US-Israeli airstrike on Tehran early Saturday. Iranian state media confirmed his death on Sunday.

Iran then started launching missiles at Israel and several Arab nations in the region in response to the killing of its supreme leader.

With inputs from agencies

Sunday, March 1, 2026

Dubai Crown Prince Holds Talks with Gulf Defence Leaders

Dubai Crown Prince Holds Talks with Gulf Defence Leaders

3 min readNew DelhiMar 1, 2026 11:06 PM IST

In a series of high-level diplomatic engagements, Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, held separate telephone calls with senior defence leaders from Kuwait, Bahrain and Oman to discuss the latest regional developments amid a threat from Iran and to reinforce coordination aimed at preserving stability. Iran has targeted several US bases in the region after coordinated US and Israeli air strikes hit several cities, including capital Tehran, and led to the death of Supreme Leader Ayatollah Ali Khamenei.

The discussions between key regional players in the Middle East come at a time of heightened focus on regional security, with Gulf nations intensifying consultation to safeguard shared interests and promote de-escalation.

UAE and Kuwait emphasise strengthened defence cooperation

In a call with Abdullah Ali Abdullah Al Salem Al Sabah, Minister of Defence of Kuwait, the two leaders reviewed recent regional developments and exchanged perspectives on their broader security implications.

They stressed the importance of deepening cooperation and enhancing coordination between the UAE and Kuwait to bolster regional security and stability. The discussions reflected both countries’ commitment to safeguarding mutual interests through close defence collaboration.

Bahrain–UAE Coordination to Support De-escalation

Sheikh Hamdan also held a telephone conversation with Abdullah bin Hassan Al Nuaimi, Minister of Defence Affairs of the Bahrain.

The two sides discussed the latest regional developments and their implications for security and stability. They underscored the importance of continued coordination and consultation to support de-escalation efforts and reinforce regional stability, highlighting the longstanding defence partnership between the UAE and Bahrain.

UAE–Oman talks highlight reducing tensions

In another call, Sheikh Hamdan spoke with Shihab bin Tariq Al Said, Deputy Prime Minister for Defence Affairs of the Oman.

The leaders reviewed developments taking place in the region and assessed their repercussions on regional security. Both sides affirmed the importance of ongoing coordination and consultation to help reduce tensions and support efforts aimed at strengthening stability across the Gulf.

Odisha Police declares two more districts 'Naxal-free'| India News

Odisha Police declares two more districts ‘Naxal-free’| India News

Bhubaneswar, Odisha Police on Sunday declared Bolangir and Bargarh districts as ‘Naxal-free’ after 15 Maoists operating in the two areas surrendered before security personnel in neighbouring Chhattisgarh, officials said.

Odisha Police declares two more districts 'Naxal-free'
Odisha Police declares two more districts ‘Naxal-free’

DDP YB Khurania said the force has achieved a significant milestone in its sustained anti-Naxal operations across the state.

“Now, Bolangir and Bargarh districts are officially declared Naxal-free,” Khurania said in a statement.

With this, the number of Naxal-free districts in Odisha has risen to seven. These are Nuapada, Nabarangpur, Koraput, Malkangiri, Boudh, Bolangir and Bargarh.

Maoist presence, however, continues in three other districts.

The 15 Maoists surrendered at a function held in Chhattisgarh’s Mahasamund district, which borders Bargarh. Three senior Odisha police officers were present at the event.

“These cadres were active in the Bargarh–Bolangir–Mahasamund division. With this development, both Bargarh and Bolangir districts have now been declared free from Naxal activities,” Khurania said, adding that the famous Gandhamardan hills spread over the two districts also become peaceful now.

The DGP informed that sustained joint operations conducted over a prolonged period, precise intelligence inputs, coordinated efforts of central and state security forces, and active cooperation from local residents have led to the complete elimination of Naxal activities from these two districts.

Khurania said this significant achievement has been made possible due to the courage, restraint, and unwavering commitment of the police force.

The DGP congratulated all officers and personnel involved in the operations and expressed gratitude to the people for their trust and continued support.

He further said similar intensified operations will continue in other affected areas of the state to ensure the complete eradication of the Naxal problem at the earliest.

Of the 10 districts earlier identified as Maoist-affected in the state, only Kandhamal falls under the Security Related Expenditure scheme, while the remaining are categorised as “Other LWE Affected Districts”.

With the latest surrender, around 25 Maoists are believed to remain active in the state, mostly in splinter groups in Kandhamal district.

ADG Sanjeeb Panda said a major operation has been launched in the forests under Daringbadi and Raikia police station areas of Kandhamal, where the state’s most wanted Maoist leader Sukru is suspected to be hiding.

This article was generated from an automated news agency feed without modifications to text.

Juniper Green Energy, Tata Power sign PPA for 85 MW hybrid project in Maharashtra

Juniper Green Energy, Tata Power sign PPA for 85 MW hybrid project in Maharashtra

Juniper Green Energy, Tata Power sign PPA for 85 MW hybrid project in Maharashtra “The project is the first wind-solar energy project for the company. It will utilize both wind and solar resources by combining 51 MW of wind energy and 34 MW of solar power,” Juniper Green Energy said in a statement.

3 US Troops Killed As Conflict With Iran Intensifies

3 US Troops Killed As Conflict With Iran Intensifies

us military, iranSmoke rises up after a strike in Tehran, Iran. (AP Photo)

The United States military, in a statement on Sunday, said that three of its service members have been killed and five others remain “seriously wounded” as part of the military operation against Iran.

The US Central Command, in a post on X, said the casualties are part of Operation Epic Fury which was launched against Iran by America and Israel on Saturday.

In the X post, the US Central Command wrote, “As of 9:30 am ET, March 1, three US service members have been killed in action and five are seriously wounded as part of Operation Epic Fury. Several others sustained minor shrapnel injuries and concussions and are in the process of being returned to duty. Major combat operations continue and our response effort is ongoing.”

Pune Residents in Gulf, Iran-US conflict, Operation Lion's Roar, US Israel Iran war 2026, Geneva nuclear talks failure, Shahed-136 drone range, CM-302 missiles Iran China deal, Ali Larijani Supreme Leader adviser, Strait of Hormuz oil prices, Lincoln Carrier Strike Group Middle East, Iran succession plan, Axis of Resistance, Indian Diaspora Gulf safety, flight cancellations Middle East.
An explosion in Tehran after Israel and the US attacked Iran. (Reuters)

Providing an update on the prevailing situation in the Middle East and the ongoing operation, the US Central Command said, “The situation is fluid, so out of respect for the families, we will withhold additional information, including the identities of our fallen warriors, until 24 hours after next of kin have been notified.”

The US forces have not provided any specifics into how the military personnel were killed or wounded but the Iran’s Revolutionary Guards (IRGC) on Sunday claimed that had launched four ballistic missiles at USS Abraham Lincoln in the Middle East region.

US President Donald Trump had warned on Saturday that there could be American casualties. “My administration has taken every possible step to minimize the risk to U.S. personnel in the region,” Trump said.

'Situation is fluid': US confirms 3 soldiers killed, several injured in 'Operation Epic Fury' against Iran

‘Situation is fluid’: US confirms 3 soldiers killed, several injured in ‘Operation Epic Fury’ against Iran

First Video Of Iran’s Attack On US Bases Across Gulf; Tehran Rains Ballistic Missiles

Missile being launched from from a USNavy ship in support of Operation Epic Fury (Credit: US Centcom X handle)

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Three US military service members were killed, while several other injured during ‘Operation Epic Fury’ against Iran, said US Central Command“As of 9:30 am ET, March 1, three U.S. service members have been killed in action and five are seriously wounded as part of Operation Epic Fury,” said Centcom.

First Video Of Iran’s Attack On US Bases Across Gulf; Tehran Rains Ballistic Missiles

Further stating that several others were injured it added, “Several others sustained minor shrapnel injuries and concussions — and are in the process of being returned to duty. Major combat operations continue and our response effort is ongoing.”However, it did not reveal the identities of the deceased, saying that they need to notify the families first. “The situation is fluid, so out of respect for the families, we will withhold additional information, including the identities of our fallen warriors, until 24 hours after next of kin have been notified,” it said.Operation Epic Fury is a large-scale US-led military offensive under President Donald Trumpcarried out early Sunday in Tehran. Its primary objective was a “decapitation strike” that eliminated Iran’s Supreme Leader Ayatollah Ali Khamenei and key members of the country’s political leadership.Israeli forces under Prime Minister Benjamin Netanyahu also participated in the operation, codenamed Operation Lion’s Roar.The strikes, conducted in broad daylight, targeted Tehran’s political and administrative districts, including the offices of the Supreme Leader, the presidential complex, and the Assembly of Experts. The offensive also killed Khamenei’s daughter and grandchild, along with senior military officials, and caused significant civilian casualties, including at a girls’ school in southern Iran, according to Islamic Revolutionary Guard Corps.

Iran’s Revolutionary Guard targets US aircraft carrier Abraham Lincoln with ballistic missiles | World News

Iran’s Revolutionary Guard targets US aircraft carrier Abraham Lincoln with ballistic missiles | World News

2 min readUpdated: Mar 1, 2026 08:55 PM IST

Ratcheting up tensions in the Middle East after the killing of Supreme Leader Ayatollah Ali Khameni in US and Israeli strikes, Iran’s Islamic ⁠Revolutionary Guard Corp ‌said it had targeted US aircraft carrier USS Abraham Lincoln ​with four ballistic missiles ​on Sunday, according to state media reports.

The ⁠USS ⁠Lincoln is ⁠one ‌of two ​aircraft ‌carriers deployed to the ‌region ​in ​recent ​weeks as Washington sought to shore up pressure on Tehran amid nuclear deal talks. It is the ​only one ⁠relatively close to Iranian ‌shores.

What is USS Abraham Lincoln

USS Abraham Lincoln (CVN 72) is America’s fifth Nimitz-class aircraft carrier and named in honour of the country’s 16th president. The second ship in the US Navy to bear Lincoln’s name, it is homeported in San Diego, California.

What are Nimitz-class aircraft carriers

Nimitz-class aircraft carriers are known as the largest warships in the world. They “support and operate aircraft that engage in attacks on airborne, afloat, and ashore targets that threaten free use of the sea and engage in sustained power projection operations in support of US and coalition forces,” according to the US Navy.

USS Lincoln, along with its strike group, also engages in maritime security operations to tackle threats to merchant shipping and prevent the use of seas for terrorism and piracy. Another important role of aircraft carriers comes to fore when they are pressed into disaster response and humanitarian assistance roles.

Gold, silver prices likely to soar tomorrow amid escalating Middle East war; what lies ahead?

Gold, silver prices likely to soar tomorrow amid escalating Middle East war; what lies ahead?

The prices of gold and silver will remain in focus tomorrow after US-Israel’s strikes on Iran killed the country’s supreme leader, Ayatollah Ali Khamenei. Analysts expect high volatility as elevated geopolitical tensions can push investors towards safe-haven assets like precious metals.

Khamenei’s death, which was confirmed by Iranian state media earlier today, triggered warnings about sharp retaliation from Tehran. US President Donald Trump announced that the 86-year-old leader had been killed on the first day of what he described as massive joint airstrikes.

Geopolitical tensions trigger risk-off sentiment, shifting investors away from equity markets and towards safe-haven assets like gold and silver. The precious metals had seen a record bull run in the beginning of this year, strongly rallying amid Trump’s tariff flip flops and other uncertainties, before seeing some correction.

Expect volatility in precious metals

Gold and silver prices are set to remain highly volatile with a gap up in the opening session tomorrow as the Middle East conflict involving renewed US and Israeli military action against Iran continues to dominate global risk sentiment, said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.

“A sharp escalation in hostilities, with coordinated strikes and retaliatory moves is fueling uncertainty and diminishing hopes of a quick diplomatic resolution. This elevated geopolitical risk can drive investors toward traditional safe-haven assets like gold and silver, and widely expect a gap-up opening for bullion markets,” he said.


As global equities and risk assets come under pressure, capital tends to shift into precious metals, which act as a hedge against uncertainty, the analyst explained. “Earlier moves have already pushed gold and silver prices higher in recent sessions, and this momentum could continue if the conflict intensifies further. Energy markets are also responding, with crude oil prices rising on fears of supply disruption through key routes like the Strait of Hormuz, which further adds to risk-off sentiment and supports bullion interest,” he further said.
Also read: Crude oil prices to cross $100? What experts predict after US, Israel attack on Iran

Profit booking to follow?

However, the impact may not be uniform. If there are any signs of diplomatic developments or indications of de-escalation, precious metals could see profit-taking after an initial spike of 3-6%, Trivedi said.

“We would expect the ongoing rally in US treasuries, oil, gold, and silver to extend. For India, the impact is typically magnified: higher crude oil prices widen the current account deficit, stoke domestic inflation, pressure the rupee, and could lead to FII outflows as global investors reduce risk exposure,” said Nachiketa Sawrikar, Fund Manager at Artha Bharat Global Multiplier Fund.

Gold rose to near a one-month high on Friday, trading at $5,230.56 per ounce. US gold futures for April delivery settled at $5,247.90. The increase marked a 7.6% gain for February this year.

Silver also climbed, with spot prices rising 4.8% to $92.60 per ounce, recording a 9.7% monthly gain. Platinum increased to $2,350.34 per ounce, while palladium fell slightly to $1,775.31.

Bears likely to take control of Dalal Street

Indian capital markets are expected to see a gap-down opening tomorrow amid the rising uncertainties. Ashish Anand, Partner at Fortuna Asset Managers, said that financial markets will probably experience risk-off behaviour together with foreign FIIs possibly selling holdings while market prices experience intense and fast price changes during the day.
Will Sensex, Nifty react amid escalating Middle East war after Khamenei’s killing?

“Our advice to investors is simple: avoid panic-led decisions. Businesses need to implement volatility as a strategic tool, which should be handled with care. People who want to invest for the long term should keep their Systematic Investment Plans (SIP) running and distribute their money between reliable, strong, and fundamentally strong companies. A person needs to follow asset allocation rules, which include stocks, gold, and bonds, because these guidelines help through unpredictable market times. We believe wealth is built through discipline, not reaction and the key theme would be “patience over pace,” said Ashish Anand, Partner, Fortuna Asset Managers.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Oil tanker with 15 Indians struck off Oman coast; crew evacuated, 4 injured| India News

Oil tanker with 15 Indians struck off Oman coast; crew evacuated, 4 injured| India News

Fifteen Indian nationals were onboard a Palau-flagged oil tanker when it was hit on Sunday off Oman’s Musandam peninsula, injuring four people, reports said. The incident took place as Iran exchanged strikes with the United States and Israel, who launched an attack Saturday that killed the Islamic Republic’s supreme leader, Ayatollah Ali Khamenei.

Skylight's registered owner is Sea Force Inc., and it is managed by Red Sea Ship Management LLC, according to LSEG data. (Representative)
Skylight’s registered owner is Sea Force Inc., and it is managed by Red Sea Ship Management LLC, according to LSEG data. (Representative)

Oman’s maritime security centre did not specify what hit the vessel. The attack followed earlier drone strikes elsewhere in the Gulf country, at the commercial port of Duqm on the Arabian Sea.

The incidents mark the first time targets in or near Oman have been hit following a wave of retaliatory strikes by Tehran on Gulf states after joint US-Israeli attacks on Iran that have plunged the region into a new war.

15 Indians in the 20-member crew

The 20-person crew of the Skylight tanker was evacuated after the attack, which occurred about 5 nautical miles north of Musandam’s Khasab Port, on the strategic Strait of Hormuz, the Oman Maritime Security Centre said in a post on X.

The crew consisted of 15 Indian and 5 Iranian citizens, according to the OMSC.

Initial information indicated injuries of varying severity among four crew members.

Skylight’s registered owner is Sea Force Inc., and it is managed by Red Sea Ship Management LLC, according to LSEG data.

The US Treasury Department had sanctioned Red Sea Ship Management and Skylight, among other vessels, in December last year, accusing the management company and its owner of operating a “shadow fleet” to transport Iranian petroleum products in the Gulf.

Iran says an oil tanker struck in the Strait of Hormuz

Iranian state television said Sunday that an oil tanker was sinking after it was struck while attempting to pass through the strategic Strait of Hormuz.

“The fate of the offending oil tanker that was struck while attempting to illegally pass through the Strait of Hormuz is that it is now sinking,” state TV reported, without elaborating.

It carried footage showing heavy black smoke emanating from the burning tanker at sea.

The strait carries a quarter of the world’s seaborne oil and a fifth of all liquified natural gas.

On Saturday, Iran’s Revolutionary Guards had warned that the vital waterway was unsafe due to US and Israeli attacks and was therefore closed to ships.

 

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