Israeli Stock Market Hits All-Time High as Financial Shares Rally, TA 35 Index Surges

The Israeli stock market showed an upward trend after the close today.

The overall index rose mainly led by the banking, finance, and insurance sectors.

The TA 35 index, the flagship index of the Tel Aviv Stock Exchange, rose 1.53% to reach a record high.

Notable stocks included Menora Mivtachim Holdings (TASE:MMHD), which climbed 5.68% to 24,000 points, and Israel Discount Bank (TASE:DSCT), which surged 5.21% to a new high.

Mizrahi Tefahot (TASE:MZTF) also rose 4.74%, closing strongly.

Meanwhile, NICE Ltd (TASE:NICE) shares dropped 3.45%, and Tower Semiconductor (TASE:TSEM) and Camtek (TASE:CAMT) fell 3.32% and 2.46%, respectively.

Overall, the number of advancing stocks was about 2.6 times that of decliners, with 59 stocks remaining unchanged.

The strength in financial shares suggests investors are favoring the stability of banking and insurance sectors.

In the commodities market, August delivery West Texas Intermediate crude oil fell about 0.28% to $74.93 per barrel, while Brent crude declined 2.33% to $75.48.

Gold futures also dropped 0.66% to $3,385.70, and the Israeli shekel remained almost unchanged against the US dollar but rose slightly versus the euro.

The U.S. dollar index futures decreased by 0.19%, indicating a mild weakening of the dollar.

In short, the Israeli stock market saw gains led by banks and financial stocks attracting investor interest, while commodity prices like oil and gold showed a gradual decline.

This strength in financial shares reflects a market atmosphere that prefers stable investments.

The declining commodity prices and weaker dollar suggest investors are weighing safe assets against growth opportunities amid global economic uncertainty.

Personally, when the financial sector shows such positive signs like in Israel, it seems to signal a stable regional economy, which draws my attention.