Israel's equity market ended the trading session on a positive note Thursday, led by gains across the Biomed, Communication and Oil & Gas sectors.
At the close in Tel Aviv the benchmark TA 35 index increased 0.25%.
Top individual performers
The leading gainer on the TA 35 was the Tel Aviv Stock Exchange (TASE:TASE), which climbed 8.14% - a rise of 910.00 points - to finish at 12,090.00. Next Vision Stabilized Systems (TASE:NXSN) added 3.87%, up 790.00 points to 21,190.00 at the close. Dimri (TASE:DIMRI) also posted a solid advance, gaining 3.69% or 1,200.00 points to end the day at 33,710.00.
Notable decliners
On the downside, Ormat Technologies (TASE:ORA) fell 3.17%, a decline of 1,100.00 points, to close at 33,650.00. Mega Or (TASE:MGOR) dropped 2.30%, down 1,040.00 points to 44,250.00, while ICL Israel Chemicals Ltd (TASE:ICL) was down 1.84% or 30.00 points, finishing at 1,600.00.
Market breadth and activity
Market breadth favored advancers: 277 stocks rose, 185 declined and 97 were unchanged on the Tel Aviv Stock Exchange.
Commodities and currencies
In commodities trading, crude oil for September delivery fell 2.50%, a drop of $2.08, to $81.19 a barrel. Brent oil for October delivery declined 2.32%, down $2.06, to $86.92 a barrel. The December Gold Futures contract lost 0.58% or $26.00, trading at $4,441.50 a troy ounce.
Currency moves showed USD/ILS declining 0.63% to 2.96, while EUR/ILS moved lower by 0.49% to 3.42. The US Dollar Index Futures was down 0.16% at 99.74 at the time reported.
What this means
The session featured sector-led gains that were sufficient to nudge the TA 35 higher despite several prominent individual declines. Energy-related names participated amid falling global crude benchmarks, while broader market participation skewed toward advancing issues by the end of the day.
Key points
- TA 35 closed up 0.25%, supported by stronger performance in Biomed, Communication and Oil & Gas sectors.
- Tel Aviv Stock Exchange (TASE:TASE) was the top-performing TA 35 stock, rising 8.14% to 12,090.00.
- Global commodity moves included declines in crude and Brent oil; currencies showed modest moves with USD/ILS and EUR/ILS both lower versus the shekel.
Risks and uncertainties
- Falling crude and Brent prices - a 2.50% and 2.32% drop respectively - introduce downside risk for energy-sector revenues and investor sentiment tied to oil and gas names.
- Currency fluctuations - USD/ILS and EUR/ILS moved lower during the session, creating exchange-rate uncertainty for exporters and importers operating in shekels.
- Individual stock weakness - declines in names such as Ormat Technologies, Mega Or and ICL point to company- or sector-specific downside that could weigh on sector indices.
Note: This report presents the session's closing prices, percentage changes and market breadth as recorded at the close in Tel Aviv. It reflects the market information available within the reported session.