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Israeli Stock Market Plunges Amid Election Uncertainty, Shekel Weakens
The Tel Aviv Stock Exchange experienced sharp declines on Wednesday, October 28, 2026, following the release of general election results that left no political bloc with a clear 61-seat majority. The political uncertainty triggered heavy selling across major indices, reversing gains recorded earlier in the week.
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What happened
- 01The Tel Aviv Stock Exchange fell sharply on Wednesday, October 28, 2026, due to political uncertainty after no bloc won a clear majority.
- 02The TA-125 index dropped by over 2.3% and the TA-35 fell by 1.8% as investors reacted to the election results.
- 03The construction index plummeted by nearly 9%, marking its worst single-day performance in three years.
- 04The Israeli shekel weakened by over 2%, with the dollar reaching a six-month high of 3.13 shekels.
- 05The euro rose against the shekel to approach 3.50 shekels, reversing the Israeli currency's pre-election gains.
- 06Africa Israel Residences stock plunged 13.63%, making it the largest decliner among the TA-125 stocks.
- 07Yields on ten-year Israeli government bonds rose eight basis points to 4.12% as bond prices declined.
The TA-125 index dropped between 2.3% and 2.46%, the TA-35 fell by 1.8%, and the TA-90 declined by nearly 4.5%. Sector-specific indices suffered severe losses, with the banks index dropping nearly 5%, insurance falling over 5%, and the construction index plummeting by nearly 9% in its worst day in three years. Africa Israel Residences was the largest loser on the TA-125, plunging 13.63%, while the TA-Technology index was the sole gainer, rising 0.8%.
In the foreign exchange market, the Israeli shekel weakened significantly against major currencies, reversing its pre-election gains. The dollar rose to between 3.128 and 3.13 shekels, its highest level in six months, while the euro approached 3.50 shekels. Long-term government bonds also declined, with the yield on ten-year Israeli bonds rising eight basis points to 4.12%.
Summarized by baba from the reports of 4 newsrooms. Updated
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Israeli Stock Market Plunges Amid Election Uncertainty, Shekel Weakens
