Tel Aviv Stock Exchange Sees Sharp Decline, Defense Stocks Lead Losses
Translated & summarized from Channel 9 by baba
The Tel Aviv Stock Exchange closed sharply lower on Wednesday, October 7, with the TA-35 index down 2.44%. Defense stocks were the biggest losers, falling 4.35%, followed by insurance and technology sectors. Major banks like Hapoalim and Leumi saw declines, while NextVision and Tower Semiconductor also experienced significant drops. A few companies, including Danya Cebus and Cellcom, managed to end the day with gains.
The story in 5 lines · by baba
- Tel Aviv Stock Exchange indices fell sharply on Wednesday, October 7.
- Defense sector stocks led the market decline, dropping 4.35%.
- TA-35 index closed down 2.44% at 4,096.45 points.
- NextVision shares continued their steep fall, losing another 11.39%.
- Dollar strengthened against the shekel, rising 0.69%.
The Tel Aviv Stock Exchange experienced a significant downturn on Wednesday, October 7, with major indices closing sharply lower. The TA-35 index fell by 2.44% to 4,096.45 points, and the TA-125 index dropped 2.38% to 3,932.42 points. The global BlueTech index saw a decline of 3.15%, while the TelBond 60 corporate bond index decreased by 0.22% to 426.28 points. Trading volume reached 5.02 billion shekels for stocks and 6.63 billion for bonds, according to Globes.
The defense sector was the hardest hit among industry indices, plummeting by 4.35%. The insurance index also suffered, losing 4.32%, followed by the technology index, which fell 3.54%. On the currency market, the dollar strengthened against the shekel by 0.69% to 3.0740 shekels per dollar, and the euro rose 0.11% to 3.4361 shekels per euro.
Bank Hapoalim recorded the largest losses among companies, with its shares dropping 1.82%, and Bank Leumi shares fell 1.64%. NextVision shares continued their sharp decline, losing an additional 11.39% after a more than 12% drop the previous day. Tower Semiconductor shares decreased by 6.11%.
Conversely, a few companies closed with gains, including Danya Cebus, which rose 3.45%, Cellcom up 2.57%, OPC Energy up 2.56%, and Gilat Satellite Networks up 2.46%. Other notable decliners included Priortech, down 11.37%, Opko Health, down 9%, Camtek, down 7.58%, and WeSure Global Tech, down 6.28%.
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