New Delhi, Oct 23 | The Pakistan Foreign Office on Saturday issued a statement on a report by CNN claiming that a formal agreement for the use of Pakistan’s airspace by the US to conduct military strikes in Afghanistan was close, clarifying that there was “no such understanding” between the two countries, Dawn reported.
CNN, in its report, cited three “sources familiar with the details of a classified briefing” to the US Congress, and said that the Biden administration has informed US lawmakers that the country was close to striking a formal deal with Pakistan for the use of its airspace to conduct operations in Afghanistan.
The report claimed that Pakistan had “expressed a desire” to sign a Memorandum of Understanding in return for help in its own counterterrorism operations and assistance with managing the relationship with India, Dawn reported.
The report said that according to a source, the negotiations were still underway and the details of the agreement, which have not yet been hammered out, were still subject to change.
Hours after the CNN report was published, the Pakistan Foreign Office issued a statement.
“No such understanding was in place,” the FO spokesperson said in response to queries about whether the country’s airspace would be used to conduct military and intelligence operations in the neighbouring country.
The spokesperson, however, stressed that Pakistan and the US had “longstanding cooperation” on issues of regional security and counter-terrorism and “the two sides remain engaged in regular consultations”.
Dalal Street found no relief with incessant sell off during the month. Nifty traded on a bearish note and ended at 16025.80 with loss of 99.35 points or 0.62 percent following weak global cues on Wednesday. While Banknifty closed at 34339.50 on the higher side with marginal gain of 49.35 points.
The weakness in US stocks is playing out globally with signs of higher inflation, which has spoiled investors’ appetite for the Indian market as well. Rising India VIX to 25.28 has led Indices to big intraday swings on both sides. Sectorally maximum sectors closed on the negative side as Nifty IT and Nifty Media sheds more than 3 percent each. While Nifty Financial Services ended on a positive side gaining 0.68 percent.
In nifty stocks, NTPC, HDFCLIFE, SBILIFE were the top gainers while ASIANPAINT, ADANIPORT and TECHM were the prime laggards. Coming to the OI Data, on the call side highest OI witnessed at 16200 followed by 16300 strike price while on the put side, the highest OI was at 15800 strike price. Technically, Nifty has formed three black crow patterns in the daily chart suggesting bearishness would remain intact. We expect a rise in volatility as well on monthly expiry day.
Riding against the trend may not be beneficial for short term traders. All major moving averages are lying above 16300 levels. Indicators such as MACD and RSI are still struggling to overcome the oversold zone in the daily time frame. Overall, Nifty is having support at 15800 mark while on the upside 16300 may act as an immediate resistance for monthly expiry. While Banknifty has support around 33500 while resistance is placed at 35200 on the daily chart.
Source: Choice India