The Tel Aviv Stock Exchange closed with moderate declines yesterday in response to both drops worldwide and the record high it reached on Sunday.
The worldwide drop began when the Shanghai market plunged due to government news agency reports that termed last week's 6 percent decline "within expectations." Investors interpreted this to mean that the government would not intervene to check the market's fall.
The TA-25 Index declined by 0.2 percent, to 1,130.2 points, as did the TA-100, which closed at 1,123.2 points. The Tel-Tech Index registered a gain of 0.3 percent. Turnover totaled NIS 1.6 billion.
Bank shares bucked the general trend, causing the bank index to rise about 0.5 percent, and accounted for the bulk of yesterday's trade. Bank Hapoalim (POLI) gained 0.4 percent on turnover of about NIS 101 million, and Bank Leumi (LUMI) added 0.9 percent on volume of NIS 121 million.
Israel Salt Industries (SALT), which climbed by 2.5 percent on Sunday on turnover of NIS 200 million, gained another 0.5 percent yesterday on volume of NIS 24 million.
Gilon (GILN) was the star of the day, surging 55 percent on volume of about NIS 30 million following its announcement that Arcadi Gaydamak would be acquiring a controlling stake in the company.
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