Tel Aviv Stock Exchange Closes Higher Led by Tech and Real Estate

The Tel Aviv Stock Exchange concluded trading on a positive note, with the TA-35 index rising approximately 0.6% to 4,259 points. The TA-90 index saw a gain of about 0.9%, closing at 4,005 points, while the TA-125 index increased by roughly 0.7%, and the All Share index was up around 0.6%. The SME60 index for smaller companies also closed higher, gaining about 0.4%. Daily trading volume reached approximately 2.8 billion shekels.

Initially, the market opened mixed, with financial sectors, particularly insurance and banks, pulling the indices down in the first hour. The insurance sector experienced a decline of over 1.5% at one point, and banks were down by about 0.8%. However, both sectors recovered significantly by the close, with insurance ending down only about 0.4% and banks trading around zero. The technology sector was the strongest performer of the day, closing up approximately 1.6%, and was the only sector to maintain a consistent upward trend throughout the trading session. Construction and real estate sectors also saw gains of about 1.2% and 0.8%, respectively.

Among individual stocks, Kamatech was the standout performer, surging approximately 7.8% to 42,600 agorot. Nova rose about 4.5%, and Tower gained around 1.8%, indicating a positive day for the chip sector. In real estate, Mega Or increased by about 5.8%, while in the energy sector, OPC Energy added approximately 4.8%, and Enlight gained about 2.6%. Bezeq closed up around 1.5%.

On the downside, Navitas fell approximately 2.3% to 13,050 agorot, reportedly due to Argentina's expanded measures concerning the Falkland Islands. Nice saw a decrease of about 2%, and Shapir Engineering was down around 1.7%. Palo Alto Networks, which had the largest trading volume at approximately 816 million shekels, closed near zero.

Looking ahead, the market's attention is on the upcoming US employment report for August, expected to influence interest rate decisions and bond yields. In real estate news, Perskotsky Investments signed a deal to sell 50% of three long-term rental housing properties to Migdal Insurance and Finance for about 700 million shekels, involving around 800 housing units.