In a stunning turn of events, the Tel Aviv Stock Exchange (TASE) reached a new 52-week high on June 19, 2025, despite reports of Iranian missile strikes targeting several locations in Israel, including the exchange building itself. This remarkable feat comes amidst escalating tensions in the Middle East and a generally negative global market response to the conflict.
The TASE's benchmark TA-125 index surged approximately 4.7% at its intraday peak, marking the fifth consecutive day of gains. This resilience is even more impressive considering the year-to-date performance: the TA-125 is up 16%, significantly outperforming the S&P 500's modest 2% increase.
While official confirmation from Israeli authorities regarding the extent of the damage to the TASE building is pending, reports from Al Jazeera and other local media outlets suggest that the building sustained damage from the attacks. Despite this, investor sentiment, although cautious, didn't completely crumble under the weight of the ongoing hostilities.
The escalating conflict between Israel and Iran has sent oil prices soaring, fueled by concerns about potential disruptions to the global crude supply. Iran's significant role as a major oil producer and its control over the Strait of Hormuz, a crucial waterway for global oil transport, are key factors driving these price increases. Further exacerbating the situation, reports emerged of an Israeli strike on Iran's Arak heavy water reactor earlier that day, although AP reports confirm that the site was evacuated and there was no radiation threat.
In contrast to the TASE's performance, other global markets experienced declines. India's benchmark indices, the Sensex and Nifty, extended their losses for a third consecutive session, closing lower on Thursday. This downturn reflects the global market's reaction to the escalating Iran-Israel conflict and rising global crude oil prices. The US Federal Reserve's decision to maintain interest rates unchanged also contributed to the negative sentiment.
The Sensex fell 82.79 points (0.10%), settling at 81,361.87, after fluctuating between a high of 81,583.94 and a low of 81,191.04 throughout the day.
