Tel Aviv Stock Exchange Closes Higher as Tech and Financial Sectors Rally
The Tel Aviv Stock Exchange closed higher as the Tel Aviv 35 Index rose 1.84% to 4,013.5 points. The Ministry of Finance successfully raised NIS 2.8 billion in a government bond auction with strong demand.
The Tel Aviv Stock Exchange closed the session with notable gains across its primary indices, driven by a broad-based rally in technology, insurance, and financial services.
The benchmark Tel Aviv 35 Index advanced by 1.84% to close at 4,013.5 points, while the broader Tel Aviv 125 Index climbed 1.97% to reach 3,898.91 points. Sectorial indices reflected the positive sentiment, led by the Tel Aviv Communication and IT Index, which surged 3.93%. The Tel Aviv Insurance Index added 3.89%, the Financial Services Index grew by 3.69%, the Biomed Index rose 3.4%, and the Tel Aviv Technology 35 Index increased by 2.89%.
Top Gainers and Decliners
Among the top-performing equities, Next Vision led the market with an 8.64% jump to 17,600 agorot. OPC Energy followed with a 7.18% increase to 9,257 agorot, and Partner Communications grew 6.48% to 3,434 agorot. Alpha Tau shares advanced 6.25% to 4,473 agorot, while Mega Or rose 6.06% to 45,480 agorot.
Conversely, the steepest decline was recorded by Avisror, whose stock dropped 5.27% to 1,006 agorot. Bagira shares fell 4.45% to 1,031 agorot, NICE Systems declined 3.46% to 30,430 agorot, Azrieli Group lost 3.02% to settle at 33,670 agorot, and RP Optical decreased by 3.01% to 3,092 agorot.
Trading Volumes and Government Bond Auction
Trading turnover reached approximately NIS 4.4 billion in the stock market, NIS 5.5 billion in the bond market, and NIS 2.2 billion in short-term bills (Makam). Government bonds posted gains, with the Tel Gov General Index rising 0.23%, the Tel Gov Shekel Index up 0.35%, and the Tel Gov CPI-linked Index adding 0.14%. Corporate bonds saw more moderate increases, as the Tel Bond Shekel Index edged up 0.12% and the Tel Bond CPI-linked Index crept up 0.01%.
Earlier in the day, the Ministry of Finance carried out its second bond auction of the five planned for November, raising approximately NIS 2.8 billion across six government bond series. The auction saw robust demand, with the overall bid-to-cover ratio climbing to 6.4 compared to 4.1 in the previous tender. Pricing remained close to market closing levels, signaling strong absorption of the offering.
Foreign Exchange and Global Markets
In the foreign exchange market, the representative exchange rates stood at NIS 3.1710 for the US dollar, NIS 3.5492 for the euro, and NIS 4.2541 for the British pound. Meanwhile, Wall Street opened the week with sharp gains, recovering from Thursday's losses, supported by a significant drop in oil prices amid easing concerns over potential escalation with Iran.
