US, 7 other nations urge full implementation of N.Korea sanctions

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Seoul, Jan 21 | The US and seven other members of the UN Security Council (UNSC) have urged the full implementation of sanctions on North Korea.

Thursday’s call came after China blocked a US proposal to impose additional UN sanctions against the North for conducting at least four missile launches since the start of the year, Yonhap News Agency reported on FRiday.

“We also call on all member states to implement Security Council resolutions, to which the Security Council unanimously agreed, and which calls on the DPRK to abandon its weapons of mass destruction and ballistic missile programs in a complete, verifiable, and irreversible manner,” said a joint statement, delivered by US Ambassador to the UN Linda Thomas-Greenfield on behalf of her counterparts from Albania, Brazil, Britain, France, Ireland, Japan and the United Arab Emirates.

“It is extremely important that Member States take the necessary steps to implement the sanctions in their jurisdictions, or risk providing a blank check for the DPRK regime to advance its weapons program,” the joint statement added.

DPRK stands for the Democratic People’s Republic of Korea, the North’s official name

The UNSC was originally scheduled to hold a closed session on the day to discuss additional sanctions against North Korea proposed by the US.

China, one of the five permanent members of the UNSC with veto power, blocked the US proposed sanctions.

“We will continue to speak out against the DPRK’s destabilizing actions as affronts to regional and international peace and stability,” said the joint statement.

They also pointed out the fact that North Korea conducted four missile launches should not be in dispute, noting the North itself has released photos of those launches.

“And we know that DPRK missile launches that use ballistic missile technology violate Security Council resolutions,” they said.

“These facts should not be in dispute. The DPRK’s unlawful behaviour is a threat to international peace and security. These launches demonstrate the regime’s determination to pursue weapons of mass destruction and ballistic missile programs at all costs, including at the expense of its own people.”

North Korea on Thursday said it will consider restarting “temporarily-suspended activities”, which many believe suggested the resumption of nuclear and long-range missile testing.

Pyongyang has maintained a self-imposed moratorium on nuclear and long-range missile testing since November 2017, although leader Kim Jong-un said in 2019 that he no longer felt bound by such restrictions.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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