Tel Aviv Stock Exchange: Sharp Declines, Recovery on Ninth Day

In depth

Trading on the Tel Aviv Stock Exchange opened with sharp declines in the first days of the series, with the TA-35 index down about 1.4% and the technology index down 2.2%. El Al shares fell 3.5% following the publication of its reports.

Investors said that concern over political uncertainty after the elections led to sales in exchange-traded funds. Banks and institutional investors sold financial stocks, while foreign investors poured hundreds of millions into the local sector.

On the ninth day, the exchange recovered, with the TA-35 index jumping 3.09% and bank shares rising 4.5%. Stock trading volume totaled about 4.1 billion shekels.