The Tel Aviv Stock Exchange continued its sharp gains on Wednesday following Tuesday's strong close. At the closing bell, the TA-35 index rose by 1.5%, and the TA-125 climbed by 1.8%.
Meanwhile, volatility in the foreign exchange market persisted. After reaching a low not seen since November, the shekel strengthened by about 1% against major currencies Wednesday morning.
The U.S. dollar traded at approximately 3.78 shekels, with the official exchange rate set at 3.784 shekels, down from 3.85 on Tuesday. The euro traded around 4.12 shekels, with an official rate of 4.1327 shekels, compared to over 4.2 on Tuesday.
Despite this improvement, the shekel remains about 6% lower than its July 15 level of 3.61 shekels per dollar, reflecting a significant decline over three weeks.
Markets saw a substantial rebound on Tuesday following Monday's global market turmoil. The Nikkei, which suffered its worst day since 1987 on Monday, surged by 10% on Tuesday. Wall Street's Nasdaq and S&P 500 both closed 1% higher. The Tel Aviv Stock Exchange ended with gains of more than 1.5% in major indices. The Nikkei's recovery continued on Wednesday, adding another 1.5%.