There was no immediate comment from Jihad faction on the ceaasefire.

Israeli government officials confirmed that Cairo was trying to facilitate a cease-fire. Israeli Minister of Foreign Affairs Eli Cohen confirmed that the Israeli government is considering an Egyptian suggestion for an immediate ceasefire. According to news agencies quoting Cohen, there is a possibility that an agreement on a ceasefire could be reached "within hours."

Shortly after the state-run Egyptian TV channel’s announcement, more rockets were fired toward Israel, AP reported.

Palestinian resistance fired hundreds of rockets from the Gaza Strip into Israel on Wednesday in reponse to Israel deadly airstrikes that killed 21 Palestinians, most of them children and women, on Tuesday and Wednesday.

The rocket fire set off air-raid sirens throughout southern Israel. A home and car were hit by rockets in the southern Israeli cities of Ashkelon and Sderot, Israeli officials said, with the occupation army announcing a series of new strikes on the blockaded Gaza Strip.

Smoke billowed from the densely populated enclave. 

Sirens were also heard in Tel Aviv, which is located 80 kilometres (50 miles) to the north on the Mediterranean Sea.

The Israeli military said that for the first time, an air-defense system known as David’s Sling intercepted a rocket. The system, developed with the U.S., is meant to intercept medium-range threats and is part of a multi-layered air defense that also includes the better-known Iron Dome anti-rocket system. Israeli media said a previous attempt to use the system several years ago had failed.

Egypt had called earlier on Wednesday for an immediate ceasefire between Israelis and Palestinians and condemned the Israeli forces' recent escalation of violence in the occupied Palestinian territories.

Minister of Foreign Affairs Sameh Shoukry will participate in a new meeting of Munich group on the Middle East Peace Process.

In a move that could further raise tensions, Israeli police said they would permit a Jewish ultranationalist parade to take place next week. The parade, meant to celebrate Israel's capture of east Jerusalem, marches through the heart of the occupied Old City's Muslim Quarter and often leads to friction with local Palestinians.

The meeting, which will be held on Thursday, brings together representatives of Egypt, Jordan, France and Germany.

Shoukry is expected to hold a press conference with counterparts in the group

Furthermore, the Arab League Council held on Wednesday an extraordinary session – on the level of permanent representatives – to discuss the Israeli aggression against the Palestinians.