A jump of about 60% in the number of players entering the stock market in the last six months • Analyst: "The general public has decided to take advantage of the sharp declines that were at the beginning of the crisis"
Sharp rises yesterday in Tel Aviv // Photo: Yehoshua Yosef
The first wave of outbreaks of the corona virus brought with it a record number of new players on the Tel Aviv Stock Exchange.
More than 77,000 new accounts were opened in investment houses in the first half of the year, an increase of 60% compared to the same period last year. According to data published yesterday (Wednesday) by Hadar Romano, an analyst in the Department of Strategy and Business Development at the Stock Exchange, in the first quarter of 2020 (January-March) a record was set in the opening of a number of new securities accounts on the stock exchange.
Last March, members of the stock exchange - banks and investment houses - enjoyed a 130% increase in the number of new accounts compared to February 2020, when the total number of new accounts opened in March was estimated at about 21,000 accounts. The definition of a new account includes any account that has not been in the Tel Aviv Stock Exchange systems before and that has made at least one transaction in the securities traded on the Tel Aviv Stock Exchange.
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An analysis of the development of accounts among TASE members shows a sharp increase of about 56% in the number of new accounts among all TASE members, between January and June 2020 compared to the corresponding period last year. It should be noted that in all of 2019 the members of the TASE opened about 98,000 new accounts, compared to about 77,000 new accounts only in the first half of 2020. A significant jump in the number of new accounts was recorded among investment houses in January-June 2020, when the number of new accounts grew by about 180% compared to the same period last year.
"The general public, which holds, according to Bank of Israel estimates, about a trillion shekels in current accounts and deposits, found during the crisis and closure the time and desire to deepen and study the investment field, open securities accounts and take advantage of the sharp declines at the beginning of the crisis," Romano explains.
Meanwhile, yesterday's trading day closed with sharp gains as the Tel Aviv-90 index recorded a jump of more than 3%. Teva and Zen each rose by about 8% and Ayalon by 9%, after announcing the purchase of a quarter of the shares of insurance agencies Gil Vardi and Alon-Al. Ashkenazi Trading on Wall Street opened with price increases.