Sun: TASE plunges as TA 25 Index falls over 4%

stock market picture: Tamar Matzapi
stock market picture: Tamar Matzapi

Bank Leumi, Delek and Israel Chemicals all fell by more than 5% as the Tel Aviv Stock Exchange joined the global selloff.

The Tel Aviv Stock Exchange fell sharply today following falls by markets around the world on Friday. The Tel Aviv 25 Index fell 4.08%, to 1,625.97 points; the Tel Aviv 100 Index fell 4.10%, to 1,416.39 points; and the BlueTech Index fell 4.63% to 338.89 points. The TelBond 20 corporate bond index fell 0.65%, to 316.34 points. Turnover totaled NIS 1.4 billion.

On Friday, on the foreign exchange market, the Bank of Israel set the shekel dollar representative rate down 0.232% from Thursday's rate at NIS 3.874/$, and the representative shekel-euro rate was set up 0.306%, at NIS 4.356/€.

On the market, all 25 shares on the Tel Aviv 25 Index fell sharply including Paz Oil Company Ltd. (TASE:PZOL), which fell 2%, despite reporting a huge rise in profit. Delek Group Ltd. (TASE: DLEKG) fell 5.88% for the biggest fall on the Tel Aviv 25 index and Israel Chemicals (TASE: ICL: NYSE: ICL) fell 5.21%. Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) fell 3.06% on the day's biggest trading turnover.

The banks also fell sharply with Bank Leumi (TASE: LUMI) down 5.05%, Bank Hapoalim (TASE: POLI) down 4.71% and Israel Discount Bank (TASE: DSCT) down 4.99%.

Osem Investments Ltd. (controlled by Nestle SA (SWX:NESN)) (TASE: OSEM) fell 1.77% for the smallest fall on the Tel Aviv 25 Index.

Published by Globes [online], Israel business news - www.globes-online.com - on August 23, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

stock market picture: Tamar Matzapi
stock market picture: Tamar Matzapi
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