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TA 35 Index Hits 1-Month High on Tech and Banking Gains
Israel's benchmark TA 35 index closed higher on Friday, gaining 0.62% to reach a new one-month high. The advance was primarily fueled by strong performance in the technology, banking, and real estate sectors, according to market data from the close in Tel Aviv.
Market Performance
The positive session saw rising stocks slightly outnumber decliners on the Tel Aviv Stock Exchange by a margin of 229 to 224, with an additional 107 stocks ending the day unchanged. The broad-based gains pushed the main index to its best level in four weeks.
Top Movers
The technology sector was a notable driver of the day's gains. The top-performing stocks on the TA 35 index included:
Ad- Next Vision Stabilized Systems (TASE:NXSN): surged 6.33%
- Tower Semiconductor Ltd (TASE:TSEM): added 4.70%
- Elbit Systems Ltd (TASE:ESLT): rose 3.87%
Conversely, some firms faced selling pressure. The session's most significant decliners were Enlight Renewable Energy Ltd (TASE:ENLT), which fell 3.05%, followed by NICE Ltd (TASE:NICE) with a 2.71% drop and ICL Israel Chemicals Ltd (TASE:ICL), which was down 2.13%.
Currency and Commodity Context
In the currency markets, the Israeli shekel strengthened against the U.S. dollar, with the USD/ILS pair declining 0.80% to 3.05. Meanwhile, global commodity markets saw a downturn in oil prices, with Brent crude falling 3.59%. In contrast, Gold Futures for August delivery posted a modest gain of 0.36%.
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