Stock Index Update: Trading Volume of Up to NIS 17 Billion and Unusual Supply in Teva Stock

The Tel Aviv Stock Exchange is updating its stock index composition today, with an expected trading volume of NIS 15-17 billion. ETFs will adjust holdings worth NIS 11.7 billion. Teva is expected to see the largest supply (NIS 1.4 billion), while Palo Alto will lead in demand (NIS 800 million) as it enters the TA-35 index.

The Tel Aviv Stock Exchange is updating its stock index composition today, a move expected to generate an unusual trading volume of NIS 15 to 17 billion. According to Yaniv Pagot, Deputy CEO of Trading at the Exchange, most of the volume will be concentrated in the closing auction, as ETFs and tracking funds adjust their holdings to the new composition. Smartbull estimates that the funds will adjust holdings worth NIS 11.7 billion out of a total asset value of NIS 94 billion. The largest supply is expected in Teva stock, with sales of NIS 1.4 billion due to its reduced weight in the main indices. Following are El Al (NIS 356 million), Bank Hapoalim (NIS 322 million), and Sella Real Estate (NIS 265 million). On the demand side, Palo Alto stands out with purchases of about NIS 800 million as part of its gradual entry into the TA-35 index. Pagot notes that this volume is equivalent to about four regular trading days, though lower than the record of NIS 24 billion set in the previous update six months ago.