2023-12-30 10:52:23
The stock market in Israel experienced a week of fluctuation as the trading year came to a close. The ongoing conflict in the Gaza Strip and skirmishes in the north of the country contributed to nervous trading, leading to an unchanged week ending. Despite this, the annual summary revealed a rise in the Tel Aviv 35 index by 3.16% and the Tel Aviv 90 index by 3.64%. The banking index also saw an increase of 8.94%, signaling some positive trends amidst the market’s overall uncertainty.
However, the year has been challenging for the State of Israel both economically and socially, with ongoing protests and a war in the Gaza Strip that has lasted for almost three months, causing economic paralysis in the southern and northern regions of the country. The government is expected to bear the costs of the war, with significant expansions in the raising of the state’s debt and anticipated tax increases in the coming months.
Despite the challenges, there are optimistic indicators for the coming year, including expected interest rate drops by 0.75%-1% in 2024, which could significantly ease the burden on the state and its citizens.
In terms of individual stock performance, some companies have shown significant gains, such as Next Vision, which rose about 295%, and Camtech, which rose about 234%. Conversely, companies like Ofc Energy and Delek Car experienced declines of about 40% and 36.9% respectively in the annual summary.
Technical forecasts for various indices and individual stocks also present a mixed picture, with some stocks showing positive momentum and potential for upward movement in the coming weeks.
The review concludes with a reminder that the analysis presented is simply the sponsor team’s view and does not guarantee the realization of the scenarios raised. Furthermore, the review does not offer specific recommendations or advice for buying or selling shares. Readers are encouraged to make their own judgments before taking any action in the stock market.
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