Tel Aviv stocks are rising 0.8% at mid-morning, on moderate turnover of NIS 55 million.
The Maof-25 index is rising by 0.8% to 404.2 points after an opening skip of 1%. The Maof-25 finally crossed back over the 400-points mark yesterday. The TA-100 index is rising by 0.9% to 396 points and the Tel-Tech index is up 0.8% too.
Investors attribute the relatively sunny mood to Tuesday's steep gains on Nasdaq and sharply rising stock prices in Asia this morning.
They say that Tuesday's sharp gain in Tel Aviv was an aggressive correction, and that the trend cannot be said to have changed for the better until turnovers begin to increase.
Israel Bank Discount is hopping 0.8% on the session's second-highest turnover, NIS 4.3 million. On Monday IDB shares took a thrashing as bank workers hastened to sell shares freed from lock-up.
The phone company Bezeq is rising by 0.9% after several days in the doghouse. The disfavor was induced by a lukewarm Hold recommendation from Bank Hapoalim and strong selling by substantial shareholder Gad Zeevi, who realized about NIS 30 million worth of stock.
Dual-listed shares are mixed. Teva Pharmaceuticals (Nasdaq:TEVA) is up 2.4% after opening on an arbitrage gap of about that. Formula Systems (Nasdaq:FORTY) is rising 1.8%, and Elron Electronic Industries (Nasdaq:ELRNF) is up 1.7% after leaping like a gazelle yesterday on lively turnover.
Elbit Systems (Nasdaq:ESLTF) is down 1.1% however, even though Bank Hapoalim raised its price target from NIS 66 to NIS 75.