Mon: Market rallies after dip following BoI rate hike

The main indices closed higher today, with the big two banks leading, but Mizrahi Tefahot and Discount Bank fell.

The Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 0.23%, to 1,786.19 points; the Tel Aviv 125 Index rose 0.34%, to 1,807.08 points; and the BlueTech Global Index rose 0.73%, to 356.81 points. The TelBond 60 corporate bond index rose 0.21%, to 350.48 points. Turnover totaled NIS 1.02 billion in equities and NIS 3.12 billion in bonds.

On the foreign exchange market, the shekel-dollar representative rate was set 0.34% lower, at NIS 3.5190/$, and the shekel-euro representative rate was set 0.10% lower, at NIS 3.7530/€.

The Tel Aviv 35 Index, which was in positive territory for most of the day, dipped sharply after the Bank of Israel’s announcement of a further 0.5% rise in its interest rate, but rallied again towards the close to end the day higher.

Bank Leumi led trading today, and rose 0.55%. Bank Hapoalim rose 1.34%, Mizrahi Tefahot Bank fell 1.51%; Discount Bank fell 0.66%; and Elbit Systems rose 1.46%.

Notable advancers today were G City, which said it would sell its executive jet, and closed up 11.65%; Isracard, up 5.17%; Electra, up 4.94%; Blue Square, up 4.80%; and Danel, up 4.75%. Delta Brands fell 4.13%, and Issta fell 3.40%.

Published by Globes, Israel business news - en.globes.co.il - on January 2, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

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