Leading TASE indexes fell 10% in 5771

By NADAV SHEMER
September 27, 2011 23:32

Turnover of shares shrank over the past six months, parallel with sharp falls in share values, the TASE reported.

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A trader looks at graph [illustrative]

Trader looks at market graph 311 (R). (photo credit: REUTERS/Tony Gentile)

The Tel Aviv Stock Exchange’s leading indexes fell approximately 10 percent in the Jewish year of 5771, reflecting wild fluctuations in global markets, the TASE reported Tuesday before Rosh Hashana.

The benchmark TA-25 rose 18% between the beginning of 5771 and April 2011, continuing an upward trend that began in July 2010. But after peaking at 1341.89 points on April 21, the index suffered heavy losses, ending the Jewish year 8% lower than it began. The TA-100 also suffered heavy losses over the past 12 months, falling 11%.

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In 5770, the TA-25 and TA-100 rose 20% and 18% respectively.

Turnover of shares shrank over the past six months, parallel with sharp falls in share values, the TASE reported. There was also a significant slowdown over the past 12 months in raising capital for the primary market, which deals with the issuance of new securities. Eleven new funds were registered for trading, raising a total of NIS 900 million.

The TASE inaugurated five new indices in 5771, all of them in April: TA-Oil and Gas, TA-Com, TA-Insurance, TA-Blue- Tech 50 and the TA-Technology index, which includes companies in the fields of electronics, computers, clean-tech and hi-tech investment.

The list of foreign-based TASE members grew to five late in the year, with the addition of Barclays Bank. The TASE now boasts 28 members – 16 banks and 12 investment houses.


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