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Tel Aviv's TA 35 Index Slips 0.82% on Financial Sector Weakness
The Tel Aviv Stock Exchange's benchmark TA 35 index closed lower on Thursday, declining by 0.82% amid broad-based selling pressure. The downturn was primarily driven by significant losses in the banking, financial, and real estate sectors, according to market data reported by Investing.com.
Widespread Declines Hit Tel Aviv Bourse
The negative sentiment was widespread across the market, with falling stocks significantly outnumbering advancing ones. Data from the Tel Aviv Stock Exchange showed 308 companies ended the session lower, compared to 165 that gained ground, while 84 issues closed unchanged.
This broad retreat underscores the investor caution that characterized Thursday's session, with key cyclical sectors bearing the brunt of the sell-off.
Tech Stocks Buck Trend as Financials Falter
While the overall market trended lower, a handful of technology and semiconductor firms posted strong gains, separating themselves from the negative sentiment. However, their performance was not enough to offset declines from major industrial and financial names.
AdKey market movers included:
- Top Gainers: Nova (TASE:NVMI) rose 6.62%, Tower Semiconductor (TASE:TSEM) added 6.33%, and Camtek (TASE:CAMT) was up 5.57%.
- Top Decliners: Next Vision Stabilized Systems (TASE:NXSN) fell 4.85%, ICL Israel Chemicals (TASE:ICL) dropped 4.30% to a 52-week low, and Delek Group (TASE:DLEKG) was down 3.80%.
Broader Market and Currency Moves
In the global commodities market, energy prices retreated during the session. Crude oil for August delivery fell 1.65% to $72.31 a barrel, while Brent oil for September delivery declined 1.35%. In contrast, the August Gold Futures contract rose 1.25%.
On the currency front, the Israeli shekel showed strength against major peers. The USD/ILS pair was down 0.65% to 3.02, while the EUR/ILS fell 0.49% to 3.45, according to the available data.