Sun: SVB collapse sends TASE reeling

The banks led heavy losses on the Tel Aviv 35 Index with Tower the only stock bucking the market.

The Tel Aviv Stock Exchange fell sharply today following the collapse of SVB. The Tel Aviv 35 Index fell 3.10%, to 1,743.49 points; the Tel Aviv 125 Index fell 3.31%, to 1,728.83 points; and the BlueTech Global Index fell 3.24% to 329 points. The All Bond corporate bond index rose 0.04% to 361.74 points. Turnover totaled NIS 1.01 billion in equities and NIS 2.12 billion in bonds.

On the foreign exchange market, the Bank of Israel set the representative shekel-dollar rate down 0.083% on Friday, at NIS 3.595/$, and the representative shekel-euro rate was set 0.053% lower at NIS 3.804/€.

Bank Hapoalim (TASE: POLI) led the market today, falling 3.93% on the day's biggest trading turnover. Bank Leumi (TASE:LUMI) fell 3.93% and Israel Discount Bank (TASE: DSCT) fell 4.17%. Mizrahi Tefahot Bank fell 4.28% and First International Bank of Israel (TASE:FTIN1; FTIN5) fell 3.75%.

NICE Systems Ltd. (Nasdaq: NICE; TASE:NICE) fell 3.18% and ICL (TASE: ICL: NYSE: ICL) fell 5.70%. Alony Hetz (TASE: ALHE) fell 7.57% for the biggest fall on the Tel Aviv 35 Index today.

Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE:TSEM rose 2.03%, the only stock to rise on the Tel Aviv 35 Index today.

Published by Globes, Israel business news - - on March 12, 2023.

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

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018