Tue: Banks drag TASE down after rate cut

The Banking Index fell 3.5% today after yesterday’s interest rate cut while Elbit and Enlight bucked the market.

The Tel Aviv Stock Exchange fell today, led by the Banking Index, which was down 3.5% after yesterday’s interest rate cut. The Tel Aviv 35 Index fell 0.96% to 4,483.96 points, the Tel Aviv 125 Index fell 1.01% to 4,419.71 points; but the BlueTech Global Index rose 0.15% to 712.95 points. The TelBond 60 corporate bond index fell 0.05%, to 424.74 points Turnover totaled NIS 5.39 billion in equities and NIS 7.46 billion in bonds.

On the foreign exchange market, the representative shekel-dollar rate was set down 1.651% from Thursday, before the Shavuot holiday, at NIS 2.859/$, and the representative shekel-euro rate was set 1.571% lower, at NIS 3.326/€.

Bank Leumi (TASE: LUMI) fell 3.30% and Mizrahi Tefahot Bank fell 3.69%. Bank Hapoalim (TASE: POLI) fell 3.47% and Israel Discount Bank (TASE: DSCT) fell 3.81%.

Phoenix Finance (TASE: PHOE) fell 3.97% for the biggest fall on the Tel Aviv 35 Index today. Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE:TSEM) fell 2.26% and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 3%.

Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) led the market today, rising 9.5% on the day’s biggest trading turnover, for the biggest rise on the Tel Aviv 35 Index, after reporting strong first quarter results. Enlight Renewable Energy (Nasdaq: ENLT; TASE: ENLT) rose 6.36%, Next Vision (TASE: NXSN) rose 1.79% and Mega Or Holdings (TASE: MGOR) rose 1.71%.

Published by Globes, Israel business news - en.globes.co.il - on May 26, 2026.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.

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