Tel Aviv 25 Index and Banking Index options for February expired at today's opening on the Tel Aviv Stock Exchange (TASE). The Tel Aviv 25 Index options were set at 652.99 points, 0.85% below yesterday's close. Turnover was NIS 478 million, compared with NIS 790 million for the January options expiry.
The direct impact of trading on international capital markets has recently been seen on the TASE. Local traders are now increasingly afraid that the Tel Aviv 25 Index will fall below 650 points, which has been a psychological and technical support level for several months.
Gaon Trade CEO Moran Zur told "Globes" today, "The big traders have forced the issue toward the 650-point level. In recent months, we've seen how the market has been divorced from developments on international markets."
Zur noted the drop in stock holdings by the Israeli public and foreign investors. "No one is selling right now. Institutional investors with the big money have no intention of dumping shares on the market anytime soon. However, I believe that they'll increase their stock exposure over the coming year."
Published by Globes [online], Israel business news - www.globes-online.com - on February 26, 2009
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