Tue: TASE rally gathers steam

Delek and its gas exploration units were boosted by more Tamar contracts, while Teva again rose.

The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 1.65% to 1,134.07 points, the Tel Aviv 100 Index rose 1.66% to 1,027.35 points, and the BlueTech 50 Index rose 1.66% to 284.89 points. Turnover was NIS 1.31 billion.

The TASE rally continued for its eighth straight day, and was stronger today than in any session for almost a week. The TASE rose across the board in line with gains in European markets and the positive opening on Wall Street.

In the bond market, long-term Shahar shekel bonds ranged between losses of 0.1% and gains of 0.1%, and long term CPI-linked bonds ranged between losses of 0.2% and gains of 0.2%. The corporate bond benchmark Tel-Bond 20 Index rose 0.25%.

In the foreign currency market, the Bank of Israel set the shekel-dollar representative exchange at NIS 3.833, down 0.16% on yesterday's rate, and set the shekel-euro representative exchange rate at NIS 4.894/€, down 0.11%.

In the stock market, Delek Group (TASE: DLEKG) rose 5.3%, for the biggest gain among Tel Aviv 25 shares, following a second gas supply contract for the Tamar discovery. Its gas exploration subsidiaries Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) rose 3.6% and 3.1%, respectively, and their Tamar partner Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) rose 1.6%.

Also in the gas exploration sector, Modiin Energy LP (TASE:MDIN.L) rose 6.6% following the expiry of its options, which should make the company NIS 37 million.

Israel Chemicals (TASE: ICL) rose 2.3% on the day's biggest turnover of NIS 185.5 million, and its parent company, Israel Corporation (TASE: IL) rose 3%. Teva Pharmaceutical Industries (Nasdaq: TEVA; TASE: TEVA) rose 2.3% on the day's second largest turnover of NIS 154 million.

Bank Hapoalim (TASE: POLI) and Bank Leumi (TASE: LUMI) both rose 1.8% on a good day for the banking sector.

Life sciences share were mixed. D-Pharm (TASE: DPRM) fell 2.6%, despite announcing the extension of a cooperation agreement with China's Wabang Biopharmaceuticals Ltd., but Kamada (TASE: KMDA) rose 2.3% on a patent application, and Hadasit Bio Holdings (TASE:HDST) rose 1.9% after investing in the financing round of portfolio company Thrombotech

Orange franchisee Partner Communications (Nasdaq: PTNR; TASE: PTNR) was the only Tel Aviv 25 share to lose ground today, with a drop of 0.2%.

Real estate company Elbit Imaging (Nasdaq: EMITF; TASE: EMIT) fell 6.4% on the sale of its GAP franchisee, and after Excellence Investments warned that the company faced insolvency in 2013. Orckit Communications (Nasdaq: ORCT; TASE: ORCT) fell 3.5%, despite yesterday's announcement of a deal with some of its bondholders.