Israel's stock market ended Wednesday's session in negative territory, driven primarily by losses across the Banking, Financials and Real Estate sectors. The benchmark TA 35 index finished the day down 0.72% in Tel Aviv.
Certain names bucked the broader trend. Next Vision Stabilized Systems (TASE:NXSN) led gains on the TA 35, rising 5.72% - an increase of 1,650.00 points - to close at 30,500.00. Navitas Petroleum LP Unit (TASE:NVPTp) also advanced, adding 4.24% or 480.00 points to finish at 11,800.00, while Bezeq Israeli Telecommunication Corp Ltd (TASE:BEZQ) climbed 2.66% - up 20.30 points - to reach 782.30 in late trade.
On the downside, Migdal Insurance (TASE:MGDL) was the weakest among the TA 35 constituents, falling 2.95%, a drop of 48.00 points, to close at 1,581.00. Harel (TASE:HARL) declined 2.46% or 340.00 points to end at 13,500.00, and Israel Discount Bank Ltd (TASE:DSCT) slipped 2.39% - down 89.00 points - to 3,628.00.
Market breadth on the Tel Aviv Stock Exchange skewed negative, with 303 stocks falling versus 180 that advanced; 65 issues finished unchanged.
Notable price milestones were recorded within the session. Shares of Next Vision Stabilized Systems rose to all-time highs, finishing up 5.72% at 30,500.00. Bezeq reached a five-year high, increasing 2.66% to 782.30.
Outside equities, commodity and currency moves were mixed. Crude oil for March delivery increased 0.95% or 0.59 to $62.98 a barrel. Brent oil for April delivery rose 0.68% or 0.45, settling at $67.04 a barrel. The April Gold Futures contract showed a larger percentage move, up 3.64% or 186.19 to trade at $5,306.79 a troy ounce.
On the currency front, USD/ILS strengthened by 0.19% to 3.10, while EUR/ILS weakened 0.67% to 3.70. The US Dollar Index Futures was higher as well, up 0.27% at 96.31.
Key takeaways
- TA 35 closed down 0.72%, with Banking, Financials and Real Estate sectors contributing to the decline.
- Top performers included Next Vision Stabilized Systems, Navitas Petroleum and Bezeq; major laggards included Migdal Insurance, Harel and Israel Discount Bank.
- Commodities and currencies moved modestly: Brent and WTI oil were higher, gold futures rose sharply, USD/ILS ticked up and EUR/ILS fell.
Risks and uncertainties
- Sizable sector-specific declines - particularly in Banking, Financials and Real Estate - may pressure related stocks and weight on broader index performance.
- Shifts in commodity prices and currency pairs could influence corporate costs and foreign currency exposures for listed companies.
- Uneven market breadth, with more decliners than advancers, signals potential short-term volatility across the exchange.