Tel Aviv Stock Exchange Ends in Sharp Decline, Led by Energy Sector

The Tel Aviv Stock Exchange concluded trading with significant losses on Tuesday, with the TA-35 index dropping approximately 0.9% and the TA-125 index falling by about 1.5%. Trading volume reached approximately 3.1 billion shekels.

The energy sector was the primary driver of the downturn, plunging by roughly 3.8%. The cleantech sector followed closely, with a decline of about 3.2%. Other sectors experiencing losses included defense, down 2.4%, and technology, down 2.1%. Conversely, the overseas income-producing real estate sector was the sole gainer, rising by 0.8%.

Leading the declines in the energy and climate sectors were stocks such as Nofar Energy, Doral Energy, Econergy, and Enlight Energy. Despite a morning report of significant deals in Romania, Nofar Energy experienced a notable drop. On the positive side, Electra Real Estate saw a sharp recovery after yesterday's fall, alongside gains in Amram, Cellcom, Palo Alto, and Summit.

In the foreign exchange market, the US dollar remained relatively stable against the Israeli shekel, closing at 3.0416 shekels, a marginal increase of 0.03%. The dollar traded within a range of 3.0318 to 3.0578 shekels throughout the day.

Earlier in the day, the market saw similar negative trends, with the TA-35 index down 0.7% and the TA-125 down 1.2% by mid-afternoon. The energy sector led the losses, down 3.2%, followed by cleantech (down 2.3%) and infrastructure (down 1.7%). The biomedical sector and overseas income-producing real estate showed gains.