Tel Aviv Market Ends Lower Across the Main Indices

The Tel Aviv Stock Exchange closed Wednesday, September 23, with the major equity indices moving lower. Tel Aviv-35 fell 0.26% to 4,296.38, while Tel Aviv-125 declined 0.36% to 4,158.23. The broader Tel Aviv-90 underperformed, dropping 0.81% to 3,746.62.
The session reflected a generally weaker equity market, although the decline was not uniform across all segments. The Tel Aviv-SME60 was a notable exception, gaining 0.73% to 1,326.56.

Broader Market Weakness Becomes More Visible

Market breadth pointed to significant selling pressure outside the largest companies. Within the Tel Aviv-90, 66 securities declined compared with 22 that advanced. The Tel Aviv-125 recorded 86 declining securities against 38 gainers, reinforcing the impression that the weakness extended beyond a small group of large-cap stocks.
The Tel Aviv-200 also declined 0.50%, while the Tel Aviv Sector-Balance index fell 0.45%. The Tel Aviv 90 and banks index dropped 0.63%, suggesting that financial shares were also unable to provide broad support.
At the same time, the SME segment moved in the opposite direction. The 0.73% gain in the Tel Aviv-SME60 highlights the differing performance between smaller companies and the broader equity benchmarks.

Trading Activity Shifts Toward the Bond Market

Trading activity remained substantial, with stock turnover reaching approximately NIS 3.84 billion. The Tel Aviv-125 accounted for about NIS 3.09 billion of turnover, while Tel Aviv-35 generated approximately NIS 2.49 billion.
Bond activity was even stronger, with approximately NIS 6.63 billion in turnover. The gap between stock and bond trading activity indicates that fixed-income instruments attracted significant market participation during the session.
The Tel Aviv-20 declined 0.49%, while its turnover reached approximately NIS 1.84 billion. Overall, the combination of declining equity benchmarks and elevated bond turnover points to an active session despite the relatively moderate headline losses in the major indices.

Individual Stocks Show Sharp Divergence

The individual-stock moves also showed considerable dispersion. Mivtach Shamir rose 4.39% to 40,390, making it one of the notable gainers within the TA-125 universe.
At the opposite end, Electra Real Estate declined 7.05% to 2,070. The contrast between the two stocks illustrates how individual company movements can differ significantly even during a broadly weaker market session.
Looking ahead, investors will be watching whether the weakness in the TA-90 and the broad negative market breadth continues into the next sessions or stabilizes around current levels. The performance of the TA-35 and TA-125 will remain important for assessing large-cap direction, while the SME segment and the continued high level of bond turnover could provide additional signals about market positioning and risk appetite. Individual stock volatility also remains an important factor, particularly where sharp moves occur alongside elevated trading activity.