The Tel Aviv Stock Exchange rose strongly today after the Bank of Israel announced a 0.25% rate cut. The Tel Aviv 35 Index rose 1.60%, to 1,895.16 points; the Tel Aviv 125 Index rose 2.08% to 1,926.35 points; and the BlueTech Global Index rose 2.29% to 388.33 points. The All Bond corporate bond index rose 0.42% to 379.04 points. Turnover totaled NIS 1.56 billion in equities and NIS 3.05 billion in bonds.
On the foreign exchange market, the Bank of Israel did not set a new representative rate today because of the New Year holiday abroad. On Friday the shekel-dollar rate was set 0.221% higher, at NIS 3.627/$, and the representative shekel-euro rate was set 0.264% lower at NIS 4.621/€.
Real estate development and income producing stocks, which had suffered most from the interest rate hikes, led the gains today. Azrieli Group (TASE: AZRG) led the market today rising 6.52% on the day's biggest trading turnover. Melisron (TASE: MLSR) rose 4.77% and Big Shopping Centers (TASE: BIG) rose 4.92%. OPC Energy (TASE: OPCE) rose 7.83% for the biggest rise on the Tel Aviv 35 Index.
Bank Leumi (TASE:LUMI) rose 1.53% and Bank Hapoalim (TASE: POLI) rose 1.19%. Israel Discount Bank (TASE: DSCT) rose 2.02% and Mizrahi Tefahot Bank rose 1.68%.
First International Bank of Israel (TASE:FTIN1; FTIN5), which fell 0.4% and NewMed Energy (TASE: NWMD), which fell 0.48%, were the only two stocks on the Tel Aviv 35 Index to decline today.
Published by Globes, Israel business news - en.globes.co.il - on January 1, 2024.
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