At least 87 Gazans and 13 Israeli soldiers have reportedly been killed since the beginning of the current offensive on Saturday.
The total death toll in Gaza has reached more than 425 while the number of Israeli soldiers killed is 18, reports the BBC.
According to reports, Hamas said in a statement that they had captured an Israeli soldier but Israel had denied its claim.
Celebratory gunfire was reportedly heard in the Gaza strip after the announcement of the kidnapped Israeli soldier.
Israeli Prime Minister Benjamin Netanyahu said that the operation would continue in the Gaza Strip despite the casualties.
Netanyahu also said that Hamas was responsible for the death toll in Gaza and paid tribute to the soldier who died in the battle.
Eye witnesses have talked about incidents whereby bodies are lying on the streets.
More From This Section
The United Nations said that 83,685 people have been displaced in Gaza.
Israeli troops, left without a choice, are entering densely populated areas and asking the civilians to evacuate, said Netanyahu.
