Tel Aviv Stock Exchange Plunges Amid Global Market Weakness
Translated & summarized from 0404 by baba
The Tel Aviv Stock Exchange experienced its worst day since early June on Wednesday, with the TA-35 index falling 2.44%. The broad market decline was attributed to global market weakness, rising oil prices, and increased U.S. bond yields. Notable stock movements included Next Vision's 23% drop over two days following a large sale by an investment fund, while some defense and insurance stocks also fell sharply. The declines mirrored broader negative trends in international markets.
The story in 6 lines · by baba
- The TA-35 index fell 2.44% on Wednesday, its worst daily performance since early June.
- Next Vision stock dropped 23% over two days after Fidelity sold 65% of its holdings.
- Defense and insurance stock indices led the market decline, falling 4.4% and 4.3% respectively.
- The downturn in Tel Aviv coincided with global market weakness and rising U.S. bond yields.
- Trading volume was high, reaching approximately 5 billion shekels.
- Despite broad declines, some stocks like Danya Cebus and Cellcom saw modest gains.
The Tel Aviv Stock Exchange experienced a significant downturn on Wednesday, with the TA-35 index dropping 2.44% to close at 4,096.45 points, marking its sharpest daily decline since early June. The TA-125 index fell 2.38% to 3,932.42 points, and the TA-90 index decreased by approximately 2.1% to its lowest level since September 2025. Trading volume was exceptionally high, reaching about 5 billion shekels, with 411 stocks declining versus only 73 advancing. All industry indices closed lower, led by the defense stocks index, which fell 4.4%, followed by the insurance index at 4.3%.
Next Vision, a manufacturer of drone cameras, saw its stock plummet by 11.39% to 189 shekels, completing a roughly 23% drop over two days. This pressure began after investment fund Fidelity sold about 65% of its holdings in the company for approximately 1.3 billion shekels, at a price of about 227 shekels per share, a 7% discount to the market price. The company's CEO, Chen Golan, described the sale as a technical event stemming from the fund's procedural updates. Chip stocks also experienced sharp declines, with Priortech down 11.37%, Camtek down 7.58%, and Tower down about 6%. Opto Health lost 9%.
On the upside, Danya Cebus rose 3.45%, Cellcom gained 2.57%, OPC Energy increased by 2.56%, and Gilat rose 2.46% after announcing follow-on orders exceeding $10 million from a leading satellite operator. In the bond market, the yield on 10-year Israeli government bonds increased by 3 basis points to approximately 4.17%.
The declines in Tel Aviv occurred against a backdrop of weakness in European and Wall Street markets, rising oil prices, tensions in the Strait of Hormuz, and a surge in U.S. bond yields, with the 10-year yield reaching its highest point since 2002. "Today's declines in Israel are part of a broader negative trend in global markets, even if they are sharper here," commented Shimon Uliel, Head of Israel Investments at Altshuler Shaham Pension and Provident Funds. Shai Zigelman, Manager of the Research Unit at Bank Hapoalim, added that while high yields are pressuring both markets, the concentration of tech giants in American indices allows them to present a stronger picture than the broader market.
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