Single Delek Group transaction squeezes Maof down 0.5% - TheStreet

At 4:43 pm, just two minutes before the end of trading, a single transaction in Delek Group (TASE: DLEKG )shares dragged down the Maof index by 0.5%. The transaction, in which eight shares changed hands for NIS 2,208, reflected a 20.32% discount. Delek represents 2.5% of the index, so the deal took the index down 0.5%.

Just before the close of trade, the Maof reflected a 2.5% drop finally closing down 1.8%.

Although the deal represented a share price of NIS 276, Delek's closing price was set at NIS 346.1, down just 0.09%, as the closing price weights all transactions in the share during the day. This also means that the transaction did not weigh heavily on the Maof's actual close, but the drastic drops in the last two minutes of trading apparently indicate selling on fears of a developing trend.

Market players noted that it is possible the transaction was the result of an error, but didn't rule out the possibility of attempted manipulation. The TASE's response was unavailable before publication.