Tel Aviv stocks stood strong after last week's gains, boosted by a bullish weekend on Wall Street. Total turnover of NIS 302 million was relatively robust, considering how dead the TASE has been lately.
Tech stocks pushed up the indices, with the Maof-25 index closing up 1.4%, crossing the 408-point barrier en route to 420. The TA-100 index climbed 2% and tech stocks gained a chunky 5.9%.
All eyes were on Koor Industries (Nasdaq:KOR) stock, which climbed 5.6% on turnover of NIS 18.4 million after affiliate ECI Telecom (Nasdaq:ECIL) gained 11% at the end of last week. ECI stock, which has spent the last year in the doghouse, is back in favor, having gained 145% over five weeks, and 40% in November alone.
Big bank shares were weak on expectations of poor quarterly results. Their downward trend was reversed to mild gains at closing. Bank Hapoalim closed up a slim 0.2% on the highest turnover of the day, NIS 20.3 million. Bank Leumi gained 0.5%. Discount Bank rose 1.4% while Mizrahi Bank climbed by 2.5%. First International Bank, which received a Hold rating from HSBC, closed up 0.5%.
Teva Pharmaceuticals (Nasdaq:TEVA) behaved as usual, closing up 2.5% on the second-highest turnover of the day, NIS 20.1 million.
Food-maker Osem Industries closed up 1.4%, having earlier reversed to drops from handsome opening gains after announcing its Q3 results. The company showed growth with revenues of NIS 587.9 million and profits of NIS 31.9 million.
Other shares in the black were Bezeq, up 2.7% and drug company Agis Industries, which climbed a hefty 6.9%.
It was a bright day for IDB group stocks. IDB Holdings closed up 0.6%, IDB Development was up 0.8% at closing, and Discount Investments gained 0.3%. Clal Industries, which reported an NIS 147 million loss this morning, was up 1%.
Dual-listed shares generally hopped. Nice Systems (Nasdaq:NICE) rose 5% and Formula Systems (Nasdaq:FORTY) leaped 7.9% on NIS 4.8 million turnover. Metalink (Nasdaq:MTLK) closed up 7.8%. Retalix (Nasdaq:RTLX), which set out this morning with a negative 1.3% arbitrage gap, gained 2.1%.
Tower Semiconductor (Nasdaq:TSEM) leaped 10.7% and Scitex (Nasdaq:SCIX) gained a hefty 9.9%. Green Venture Capital soared 29%, completing a 120% rise over the last ten days.