Story
TA 35 Index Rises 0.80% to Hit One-Month High
Israeli stocks advanced at the close of trading on Wednesday, with the benchmark TA 35 index climbing 0.80% to reach a new one-month high. The gains were primarily driven by strong performance in the insurance, oil & gas, and financial sectors, according to market data.
Market Performance
The Tel Aviv 35 index's rise marked its best closing level in a month. However, the rally was not broad-based across the Tel Aviv Stock Exchange. Market breadth was negative, as falling stocks outnumbered advancing ones by a margin of 251 to 210, with 99 issues ending the session unchanged. This suggests the index's gains were concentrated in a number of its larger components.
Top Movers
Several companies posted significant gains, leading the TA 35's advance. The day's top performers included:
- Enlight Renewable Energy Ltd (TASE:ENLT): Rose 4.01%
- Menora Miv Hld (TASE:MMHD): Added 3.99%
- Elbit Systems Ltd (TASE:ESLT): Gained 3.88%
AdConversely, some major index constituents faced selling pressure. The session's biggest decliners were NICE Ltd (TASE:NICE), which fell 6.31%, followed by banking stocks Leumi (TASE:LUMI) and Bank Hapoalim (TASE:POLI), which declined 1.47% and 1.36% respectively.
Broader Market Context
The positive session for Israeli equities occurred alongside a rally in global commodity markets. Crude oil futures for September delivery rose nearly 3%, while the August Gold Futures contract gained over 1.8%.
In foreign exchange markets, the Israeli shekel weakened against the US dollar and the euro. The USD/ILS pair was up 0.31% to 3.06, while the EUR/ILS pair rose 0.45% to 3.49.
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