Israeli Equities Deliver a Mixed Session

The Tel Aviv Stock Exchange retreated on November 11, with losses concentrated in several leading benchmarks while mid-cap and broader-market indices showed greater resilience. The Tel Aviv-35 declined 1.02% to 4,058.75, while the Tel Aviv-125 lost 0.64% to 3,952. The Tel Aviv-90 moved in the opposite direction, gaining 0.71% to 3,641.70.

The session followed November 10’s broad advance, when the Tel Aviv-35 gained 2.17% and the Tel Aviv-125 rose 2.02%. The latest figures indicate that the market’s recovery did not continue uniformly, with the largest companies represented in the leading benchmarks facing renewed pressure.

Performance across the remaining indices was similarly divided. The Tel Aviv-SME60 advanced 0.89% to 1,211.93, while the Tel Aviv-200 gained 0.25% to 3,802.74. The Tel Aviv Sector-Balance index declined 0.36% to 4,509.57, and the Tel Aviv-90 and Banks index fell 0.68% to 3,856.35. The Tel Aviv-20 recorded a 1.06% decline to 3,872.67.

Market Breadth Shows Strength Beyond Large-Cap Stocks

Advance-decline figures reveal a more positive picture among mid-cap and broader-market securities than the headline indices initially suggest.

The Tel Aviv-35 recorded 14 advancing securities and 20 declining securities. Within the Tel Aviv-125, 74 securities advanced compared with 44 that declined. The Tel Aviv-90 registered 60 advances against 24 declines.

The Tel Aviv-SME60 also showed positive breadth, with 33 advancing securities and 27 declining securities. The Tel Aviv-200 recorded 114 advances and 79 declines, indicating that rising securities outnumbered falling securities across the broader index.

In contrast, the Tel Aviv-90 and Banks index recorded 60 advances and 29 declines despite its negative index performance. The Tel Aviv Sector-Balance index reported 57 advances against 37 declines, while the Tel Aviv-20 registered six advances and 13 declines.

The figures suggest that weakness in the largest benchmark constituents weighed on headline performance even as a substantial number of individual securities advanced.

Trading Activity and Market Turnover

Stock turnover reached approximately NIS 3.81 billion, based on reported activity of NIS 3.807 billion. Bond turnover totaled approximately NIS 4.36 billion, exceeding equity trading activity by around NIS 551 million.

The difference indicates that bond-market activity remained higher than equity turnover during the session. However, the available figures do not identify the specific securities or investor transactions responsible for the activity.

Individual index turnover figures were not provided in the supplied table, limiting comparisons of trading activity between the different equity benchmarks.

Individual Stocks Show Significant Divergence

Among the reported Tel Aviv-125 constituents, IAAS advanced 7.26% to 65,330, making it the strongest reported gainer. The stock exchange moves in the cell declined 9.18% to 13,250, recording the largest reported decrease.

The contrasting movements highlight the divergence in individual-stock performance during a mixed market session. While the broader indices showed meaningful participation from advancing securities, individual companies continued to experience substantial price movements in both directions.

National recorded approximately NIS 232.44 million in turnover, making it a notable individual trading figure. The supplied data does not establish the specific catalysts behind these stock movements.

What Investors Should Watch Next

The next sessions will help determine whether the Tel Aviv-35 can maintain its position above 4,000 and whether the Tel Aviv-125 can stabilize around 3,950. The Tel Aviv-90’s continued strength will also be important in assessing whether the broader recovery can extend beyond the largest companies.

Market breadth remains a particularly relevant indicator. Continued advances among mid-cap and broader-market securities could indicate that underlying participation remains relatively healthy despite weakness in the leading benchmarks. Investors may also monitor the banking index and the Tel Aviv-20 for signs of renewed stabilization.

Trading activity across equity and bond markets will provide additional context for assessing the direction of investor positioning.

Closing Insights

The November 11 session interrupted the recent rally in the leading Israeli equity benchmarks, with the Tel Aviv-35 and Tel Aviv-125 recording losses. However, the Tel Aviv-90, SME60, and Tel Aviv-200 advanced, while market breadth remained positive across several broader indices. The divergence suggests that weakness was more concentrated in selected large-cap segments rather than uniformly distributed across the market. Subsequent sessions will show whether this pattern persists.