The Tel Aviv Stock Exchange closed showing gains on Sunday. This follows Thursday's rises on Wall Street, which saw the Nasdaq jump by 3.29%, and the Dow Jones rise by 1.13%.

The Maof-25 index of blue chips rose 1.54% to 408.68 points, the TA-100 jumped 1.61% to 400.61 points, and the Tel-Tech index of technology stocks climbed 2.81%.

Shares in

IDB Holdings

finished up 4.2%, on an unusually large turnover of NIS 38 million, the session's largest. It seemed as though the share was still responding to Thursday's news that Israeli businessman Eliezer Fishman is trying to increase his holdings in the company from 5% to 15%. Moreover, it looks like Fishman snapped up all available shares in the company and is responsible for the high turnover.

The rest of the group also did well with shares in IDB Development rising 4.6%,

Discount Investments

climbing 3.6%, and

Clal Industries & Investments

jumping 2.3%.

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Arbitrage stocks also rose, with

Formula Systems

(Nasdaq:FORTY) showing gains of 7.8%,

Nice Systems

(Nasdaq:NICE) finishing up 5%, and

Tower Semiconductor

(Nasdaq:TSEM) ending up 7.2%.

But it was a bad day for

Elbit Systems

(Nasdaq:ESLT), which shed 3.6% on a turnover of NIS 5 million, after losing a contract with the Turkish government.