Metalink and Magic join Tel-Tech index

The Tel-Tech was launched in April 2000 at 700 points. It's down to 361 points
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Magic Software and

Metalink

(Nasdaq:MTLK) Enterprises (Nasdaq:MGIC) are among the seven stocks to join the fast-shrinking Tel-Tech technology index.

Since its launch in April 2000, the Tel-Tech has posted steep losses. The index today stands at 361 points, having started its career at 700 points.

The

Tel-Tech index

contains 50 companies, together worth an aggregate $21.2 billion.

The companies removed from the Tel-Tech index as of January 1 are RSL Electronics, IFN Systems, Azimuth, Aryt Industries, Medcon, Spectronix, and

Trendline

.

Some of the notable shares listed on the index are

Elron Electronic Industries

(Nasdaq:ELRNF),

Nice Systems

(Nasdaq:NICE), Clal Electronic Industries, Elbit Systems (Nasdaq:ESLTF), and Formula Systems (Nasdaq:FORTY), whose relative weight on the index is 7.5%.