Tel Aviv 35 Index Closes Nearly Flat as Sector Losses Offset Gains

Israeli stocks ended Wednesday's trading session nearly unchanged, with the benchmark TA 35 index closing down a marginal 0.06%. The slight decline was driven by weakness in the real estate, technology, and insurance sectors, according to market data.

Market Performance

At the close in Tel Aviv, market breadth was negative, indicating broader selling pressure than the headline index suggested. Data from the Tel Aviv Stock Exchange showed 299 declining stocks, outnumbering the 170 that advanced, while 90 issues ended the day unchanged.

Key Stock Movers

Several prominent companies weighed on the index's performance. The session's most significant decliners included:

• Ormat Technologies (TASE:ORA): fell 5.82% to close at 30,610.00.
• Tel Aviv Stock Exchange (TASE:TASE): declined 2.04% to 13,450.00.
• Azrieli Group Ltd (TASE:AZRG): was down 1.83% to 39,260.00.

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Conversely, strong performances from other constituents helped to mitigate deeper losses. Top gainers on the TA 35 included:

• Strauss Group (TASE:STRS): rose 2.74% to 11,620.00.
• Navitas Petroleum LP Unit (TASE:NVPTp): added 2.17% to end at 12,700.00.
• OPC Energy Ltd (TASE:OPCE): gained 2.12% to close at 10,130.00.

Broader Market Context

In commodities, energy prices saw a significant rally. Crude oil futures for October delivery jumped 3.45% to $96.24 a barrel, while Brent oil rose 3.28% to $101.13 a barrel. Gold futures also advanced, gaining 0.57%.

In the foreign exchange market, the USD/ILS pair was largely stable at 3.02, while the EUR/ILS pair rose 0.28% to 3.52. The US Dollar Index Futures, which measures the greenback against a basket of other major currencies, was down 0.15%.