Tel Aviv trading closed mixed on Friday as the benchmark Tel Aviv 35 index dropped 0.7%, while the Tel Aviv 90 index rose 1.6%.
Tel Aviv Benchmarks Slip as Technology and Banking Shares Weigh on the Market
The Tel Aviv Stock Exchange wrapped up the final trading session of the week with divergent movements across its major indices. While the Tel Aviv 35 index retreated by about 0.7%, the mid-cap Tel Aviv 90 index managed a 1.6% gain, though it still hovered near a one-year low.
Over the course of the week, the market suffered steady losses. The Tel Aviv 35 index shed 3.7%, the Tel Aviv 90 lost 3.3%, and the broader Tel Aviv 125 index dropped 3.6%. Banking and technology shares led the downward pressure, with the banking index sliding 1.1% on Friday and the technology sector retreating 0.8% amid weak sentiment inherited from Wall Street chip stocks.
The SME60 index added 0.7%, while the Tel Aviv 125 index finished at 3,925.79 points after dropping 0.21%. Among the prominent blue-chip movers in the Tel Aviv 35 list, Mega Or climbed 3%, Navitas Petroleum advanced 2.4%, and ICL rose 2.2% on a trading volume of 36 million shekels, alongside a 2% gain for Big. On the losing side of the major index, Bezeq dropped 2.4% and OPC Energy retreated 1.6%. In the broader Tel Aviv 125 universe, Max Stock jumped 4.80% to 3,450 agorot, Whishot Globaltech climbed 4.59% to 1,482 agorot, Energean advanced 4.43% to 2,924 agorot, RP Optical rose 4.01% to 3,551 agorot, and Mishkot Energy increased 3.99% to 974.3 agorot.
Additional declines across the market boards included IBI Investment House losing 2.86% to 38,740 agorot, Bezeq falling to 732 agorot, and Ashot Ashkelon dropping 2.24% to 1,310 agorot. Sector performance showed the construction and real estate gauges advancing over 2%, with Carasso Real Estate, Dania Sibus, and Shikun & Binui standing out positively, while the Tel Aviv Real Estate index gained 1.7% and the Tel Aviv Oil and Gas index added 1.4%. Conversely, the defense stocks index dropped 4.3%, and the insurance index slipped 0.4%.
Next Vision Shares Plunge Following Massive Fidelity Share Offload
Drone camera manufacturer Next Vision remained a central focus of selling pressure, dropping 4.9% in heavy trading to close at 18,430 agorot. The sharp single-day drop capped a brutal four-day stretch in which the stock lost roughly a quarter of its value, down about 24% and erasing substantial market capitalization.
Other dual-listed tech names also faced headwinds, with Tower Semiconductor falling 3.5% (and dual-listed tech shares returning with negative gaps, particularly Tower dropping 5%) and Elbit Systems losing 1.8%, while Teva bucked the trend with a 2% gain. Additional large-cap movers included Bank Hapoalim and Bank Leumi dropping 1.4% and 1.1% respectively, Phoenix declining 1.1%, and Nova slipping 1.5%.
BST Group Secures Major Contract for Ramat Gan Vertical City
Away from the broader market slide, the construction and real estate sector provided bright spots.
Political Polarization and Investor Anxiety Over Israel’s Economic Future
Trading floors also digested broader political undercurrents and macroeconomic pressures. Recent weeks have seen foreign investors trim exposure through steady share disposals, while domestic pension funds and provident funds absorb the inventory.