Israel’s Tel Aviv Stock Exchange closed at a new all-time high on Monday.
The TA-35 Index surged 4.61% to finish at a record level. The broader TA-125 index also hit a fresh peak, jumping 3.85%.
The rally came as global markets tanked. Asian stocks fell sharply and Wall Street futures pointed down. But Tel Aviv went the other way.
Investors cheered Israel’s weekend operation in Iran. The move sparked what local media called “euphoria” across Israeli capital markets.
The shekel strengthened against major currencies. It gained 1.93% against the dollar and 2.76% against the euro.
Insurance stocks led the charge. Clal, Harel, and Menorah Mivtachim all jumped more than 9%. Banks and defense companies also saw heavy buying.
Trading volumes hit very high levels as investors piled in. Energy stocks were the only laggards, slipping slightly.
The record close caps an incredible run. The TA-35 has nearly doubled since the October 7, 2023 Hamas attack caused an initial crash.
Foreign investors have returned in force. They bought over $2 billion worth of Israeli shares last year, mostly in defense and finance sectors.
The exchange now trades Sunday through Friday after switching from a Sunday-to-Thursday schedule in January. The move aligns Tel Aviv with global markets.
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