The Tel Aviv Stock Exchange traded with positive bias throughout the day, influenced by the lower-than-projected March CPI and the relative quiet on the northern border as well as the IDF pullout from Nablus and Jenin. Nasdaq's Tuesday gains also contributed to a 1.5% rise in leading indices.
TA-25 blue chips ended up 1.5% to 394.9 points, the TA-100 closed up 1.4% to 380.9 points and tech shares are gaining 1.6% to 223.3 points. Turnover is NIS 238 million.
Lahak deputy manager for investments Moshe Gaba estimates the market has posted some positive momentum in the past few days, which he expects to continue in the coming days if there are no significant changes in the security and economic situations. He estimates the drops in the past few weeks were relatively significant and many shares can now be found at attractive prices, namely second-tier shares like Nice Systems (Nasdaq:NICE), Retalix (Nasdaq: RTLX), Lipman, FIBI, and Elron (Nasdaq: ELRN). He suggest this is the reason these shares have posted high turnover the past few days.
The major banks posted mixed trends with Bank Hapoalim trading flat and Bank Leumi up 0.2%.
Bezeq gained 1.8% on the session's largest turnover ¿ NIS 20.5 million - while Partner Communications (Nasdaq: PTNR) is climbed 2.3%.
Teva (Nasdaq: TEVA) picked up 2.1%. Chemical companies also rose today, with Israel Chemicals up 2.6% and Makhteshim Agan adding on 1.8%.
Ormat tacked on 4.3% on NIS 694,000 volume after announcing a winning bid to build a geothermic power station in Guatemala. Ormat estimates investment in the project a $15-25 million, with projected annual income of $10 million.
IDB group shares had a upbeat day with IDB Holdings swelling 3.4%, IDB Development adding on 2.9% and Discount Investments seeing a 1.6% expansion. Clal Industries closed up 0.8%. Interest in the group has picked up in light of estimated renewed talks to sell control of the group to Kardan.
Among dual listed shares, Magal (Nasdaq: MAGS) is noteworthy, dropping 6.7% after opening with 7.8% negative arbitrage. In contrast, Elbit Systems (Nasdaq: ESLT) is up 2.3% and Retalix 2.6%.
Avner and Delek Drilling's participation units are climbing 2.7% and 4.2% respectively. The two announced this morning that oil rig Southern Cross has its drilling destination yesterday and is now anchoring and stabilizing before beginning its drilling activities. Three additional drilling sites are planned in the Mari field.