Tel Aviv's TA-35 Index Ends Higher, Boosted by Tech and Banking Sectors

Israel's benchmark TA-35 index finished in positive territory on Thursday, lifted by strength in the banking, technology, and energy sectors. The index's modest gain came despite a broader market trend where more stocks declined than advanced.

Market Close Details

The TA-35 index added 0.34% by the close of trading in Tel Aviv. According to market data from Investing.com, the advance was primarily led by gains in the Banking, Oil & Gas, and Communication sectors.

However, market breadth was negative, indicating that the gains were concentrated in larger-cap index components. On the Tel Aviv Stock Exchange, 279 stocks fell while 164 advanced, and 103 ended the session unchanged.

Standout Performers and Laggards

Several technology and cybersecurity firms were among the day's top performers, driving the index higher:

• NICE Ltd (TASE:NICE) was the best performer on the index, rising 6.41%.
• Palo Alto Networks Inc (TASE:CYBR) gained 5.48%, closing at an all-time high.
• Nova (TASE:NVMI) advanced 4.48%.

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On the other side of the ledger, the session's worst performers were led by the renewable energy and financial sectors:

• Enlight Renewable Energy Ltd (TASE:ENLT) fell 5.65%.
• Menora Mivtachim Holdings Ltd (TASE:MMHD) declined 3.44%.
• Shapir Engineering and Industry Ltd (TASE:SPEN) was down 3.24%.

Commodities and Currencies

Strength in the energy sector coincided with a notable increase in global oil prices. Brent crude for December delivery rose 3.24% to $101.21 a barrel, while U.S. WTI crude for November delivery was up 2.00% at $92.23 a barrel.

In the foreign exchange market, the USD/ILS pair rose by 0.52% to 3.09, reflecting a stronger U.S. dollar. The US Dollar Index Futures, which measures the greenback against a basket of major currencies, was up 0.45% to 101.65.