JERUSALEM - Over 40 Israelis have been killed and more than 700 injured in the Islamic Resistance Movement's (Hamas) offensive that began earlier on Saturday, reported Israeli media citing Magen David Adom from emergency services.

Israeli officials have not confirmed reports on various media channels that tens of Israeli civilians and soldiers are being held captive by Hamas.

Over 2,500 rockets were fired into Israel by Hamas since the early hours of Saturday, said Israeli military. It added that in response, airstrikes against over 20 Hamas targets have been carried out in recent hours.

An Israeli cabinet meeting is underway in Tel Aviv to discuss the further response.