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Tel Aviv Stock Exchange indices reacted with decline after attack on Israel

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The largest stock index of the Tel Aviv Stock Exchange reacted with a fall to the news of the Hamas attack on Israel.

The flagship Israeli stock index TA-35, which includes the 35 largest companies by capitalization, decreased during trading on October 8 and 9 by 6.7% to a minimum of 1,705.07 points (by the close of the session on October 5).

The TA-90 index, which tracks shares of the largest companies by capitalization but not included in the TA-35 index, fell by 8.97% to 1,791.83 points. The main Israeli stock index TA-125, which includes shares of the 125 largest companies by capitalization, fell 6.96% to 1,727.69. The TA Allshare index fell 7.76% to 1,517.83 points.

As of 11:30 Moscow time on October 9, the TA-35 index was at 1,704.10 (-0.47%), TA-90 – 1791.44 (-1.18%), TA-125 index – 1724.07 (- 0.6%), TA Allshare – by 1509.7 (-0.87%).

The dollar-shekel exchange rate during trading on October 9 increased by 1.74% to a daily high of 3.9314 shekels per dollar. As of 12:00 Moscow time, it was 3.9183 (+0.59%). The currency is showing growth amid the Bank of Israel’s announcement of the sale of up to $30 billion of foreign currency as part of a program to support markets amid the escalation of the conflict.

How notes Reuters, The Israeli shekel fell to a nearly eight-year low against the US dollar amid escalating conflict in the Middle East.

Amid the attack, analysts spoke to Reuters over the weekend statedthat rising geopolitical risk will lead to purchases of assets such as gold and the dollar, as well as increased demand for US Treasuries, which have recently seen sales.

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