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Tel Aviv 35 Index Slips 0.49% on Weakness in Real Estate, Energy Sectors
Summary
Israel's benchmark TA 35 index closed lower on Monday, weighed down by losses in the real estate, oil and gas, and biomedical sectors. The decline reflected broader market pressure, with falling stocks significantly outnumbering advancers.
Israeli stocks ended Monday's trading session in negative territory, with the benchmark TA 35 index falling 0.49% to close in Tel Aviv. The decline was primarily driven by broad-based weakness in the Real Estate, Oil & Gas, and Biomed sectors, according to market data.
Market Performance Details
The negative sentiment was widespread across the Tel Aviv Stock Exchange, where declining stocks outnumbered advancing ones by a margin of 272 to 167, while 113 issues ended the session unchanged. This market breadth indicates a lack of conviction among buyers during the trading day.
Among the notable decliners, shares in supermarket chain Shufersal (TASE:SAE) fell 2.70% to hit a new 52-week low.
Key Stock Movers
The session's worst-performing components of the TA 35 index included:
- Dimri (TASE:DIMRI): down 4.60%
- Palo Alto Networks Inc (TASE:CYBR): down 4.08%
- Shufersal (TASE:SAE): down 2.70%
AdDespite the overall market downturn, a few companies posted gains. The top performers on the index were:
- Kenon Holdings Ltd (TASE:KEN): up 3.09%
- Tower Semiconductor Ltd (TASE:TSEM): up 2.59%
- Mega Or (TASE:MGOR): up 2.01%
Commodities and Currency Context
In the broader markets, commodity prices showed mixed results. Crude oil futures for November delivery rose 3.20% to $95.37 a barrel, while Brent oil for December delivery climbed 2.70% to $100.07 a barrel. In contrast, the December Gold Futures contract experienced a significant drop, falling 4.00% to trade at $4,148.30 a troy ounce.
In foreign exchange, the U.S. dollar strengthened against the Israeli shekel, with the USD/ILS pair rising 0.98% to 3.08. The US Dollar Index Futures, which measures the greenback against a basket of other major currencies, was also up 0.31% at 101.02.
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