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Tel Aviv stocks are rallying 0.3% from yesterday's 2.8% plunge. The sharp drops Wednesday came in response to reports of treasury plans for a tax on capital gains.

The Maof-25 blue chip index is up 0.3% to 387.7 points, the TA-100 index is edging up 0.1% to 373.5 points, while technology shares are off 0.3%.

At the expiration of the April options on the Maof-25 index, the index rose 0.5% to 388.21. At NIS 215 million, total turnover is relatively low for option expiry days.

Bank stocks continue to slide. Bank Hapoalim is down 0.5% on the session's biggest turnover, NIS 30 million. On Wednesday, Bank Hapoalim dropped 2.7%.

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Bank Leumi is off 0.3% on NIS 23 million volume, after yesterday closing down 4.4%.

The drop in bank stocks yesterday was attributed to reports that debt-burdened cable TV firm Tevel is likely to ask its bank creditors to forgive debt worth hundreds of millions of shekels.

Tevel's debt to Bank Leumi comes to NIS 957 million, and to Bank Hapoalim, NIS 494 million.