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TA-35 Index Slips 0.38% as Tech and Real Estate Stocks Decline
Summary
Israel's benchmark TA-35 index ended Friday's session in negative territory, pulled lower by losses in the technology, real estate, and communication sectors. The decline occurred despite gains from banking and energy shares.
Israel's benchmark TA-35 index closed down 0.38% on Friday, as losses in the real estate, communication, and technology sectors weighed on the broader market.
Session in Review
At the close of trading in Tel Aviv, declining stocks outnumbered advancing ones by a margin of 264 to 181, with an additional 114 issues ending the session unchanged, according to data from Investing.com. The negative sentiment was primarily driven by weakness across several key industries, which offset pockets of strength elsewhere in the market.
Index Movers
Technology shares were among the session's worst performers, while select banking and energy companies posted notable gains.
Top Decliners
- Tower Semiconductor Ltd (TASE: TSEM): Fell 4.40% to close at 70,680.00.
- Ormat Technologies (TASE: ORA): Declined 2.92% to end at 31,870.00.
- Nova (TASE: NVMI): Dropped 2.63% to 136,350.00.
AdTop Performers
- Newmed Energy LP (TASE: NWMDp): Rose 2.82% to finish at 1,641.00.
- Mizrahi Tefahot (TASE: MZTF): Added 1.54% to end at 22,440.00.
- Israel Discount Bank Ltd (TASE: DSCT): Gained 1.46% to close at 3,195.00.
Currency and Commodity Markets
In foreign exchange markets, the Israeli shekel weakened against major currencies. The USD/ILS pair rose by 0.69% to 3.04, while the EUR/ILS climbed 0.76% to 3.48.
Elsewhere, energy prices advanced, with West Texas Intermediate (WTI) crude for August delivery up 2.79% to $81.15 a barrel. The August Gold Futures contract edged up 0.17% to trade at $3,999.02 a troy ounce.
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