Tel Aviv Stock Exchange Surges in Hebrew Year 'Tashpa"v'

The Tel Aviv Stock Exchange (TASE) concluded the Hebrew fiscal year Tashpa"v with significant growth, investor confidence, and record market capitalization. The exchange's research unit reported a year characterized by renewal and trust in the Israeli capital market, driven by interest rate stability and improved investor sentiment.

Key stock indices experienced sharp gains: the TA-35 index rose approximately 40.5%, the TA-125 by about 36.8%, and the TA-90 by roughly 25.5%. These performances outshone most leading global indices. Sector-specific indices also showed strong results, with the TA-Insurance index soaring by approximately 94.5%, alongside substantial increases in the Cleantech, Finance, Industry, and Technology indices.

The market's upward trend was accompanied by a significant expansion in trading activity and investor participation. The average daily trading volume in stocks, both on and off the exchange, reached about 4.9 billion shekels, up from approximately 3.1 billion shekels in the previous year. Foreign investor participation in stock trading increased to about 31%.

Mutual funds were net buyers of stocks totaling approximately 10.8 billion shekels, while pension funds, provident funds, and insurance companies purchased a net of about 9.6 billion shekels. Foreign residents also invested a net of approximately 2.1 billion shekels in stocks.

This past year also saw considerable expansion in the primary market and investment options. Thirty-three new companies joined the Tel Aviv stock market, 26 through initial public offerings. The total market capitalization of stocks on the exchange grew from about 1.7 trillion shekels at the beginning of the year to approximately 3.1 trillion shekels. Additionally, the TASE launched 26 new stock and bond indices, broadening investment products and exposure to key economic sectors. The inclusion of Palo Alto Networks in the TA-35 and TA-125 indices was a notable event, strengthening the presence of leading global companies in the local market.

Alongside market performance, trading infrastructure and liquidity were enhanced. Market-making programs were expanded to cover 287 stocks, a new program for corporate bonds was launched, activity in global government bonds increased, and the futures market continued its rapid growth. In summary, Tashpa"v marked the Tel Aviv Stock Exchange not only with sharp index gains but also as a broader, more liquid, and diverse market with increased investor activity, a wider range of products, and a strengthened position for the Israeli capital market.