TA-100 Index
Encyclopedia
The TA-100 Index, typically referred to as the Tel Aviv 100, is a stock market index
of the 100 most highly capitalised companies listed on the Tel Aviv Stock Exchange
(TASE). The index began on 1 January 1992 with a base level of 100. The highest value reached to date is 1247.92, in January 2011.
and is calculated in real-time
during trading hours and published every 30 seconds. The index combines the companies that are listed in the TA-25 and TA-75 indices.
, which are not included in the TA-25 index. The index began in 1999 with a base level of 100.
The Free float Adjustment factor represents the proportion of shares that is floated as a percentage of issued shares. The free-float method, therefore, does not include restricted stocks, such as those held by company insiders.
A company’s weight in the index has an upper-limit of 9.8%, the weight of a company that should be higher is limited to 9.8% and the rest is divided between the other constituents of the index. Since October 2007 this restriction has set the effective weight of Teva Pharmaceutical Industries
at 9.8%.
To be included in the TA-25 index the company’s stock also need to adhere to the following requirement: Meet a public holding threshold of at least 25% and a minimal value of 600 million NIS (to ensure that there is a significant Free float holding, which is not controlled by insiders).
The constituents of the indices are determined twice a year; on the first trading day in January and in July. The largest companies in the TA 100 index are promoted to the TA 25 index if their market capitalisation is 20% more than a current company.
Stock market index
A stock market index is a method of measuring a section of the stock market. Many indices are cited by news or financial services firms and are used as benchmarks, to measure the performance of portfolios such as mutual funds....
of the 100 most highly capitalised companies listed on the Tel Aviv Stock Exchange
Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange in Tel Aviv is Israel's only stock exchange.The TASE is the only public market for trading securities in Israel. It plays a major role in the Israeli economy....
(TASE). The index began on 1 January 1992 with a base level of 100. The highest value reached to date is 1247.92, in January 2011.
Overview
The index is maintained by the Tel Aviv Stock ExchangeTel Aviv Stock Exchange
The Tel Aviv Stock Exchange in Tel Aviv is Israel's only stock exchange.The TASE is the only public market for trading securities in Israel. It plays a major role in the Israeli economy....
and is calculated in real-time
Real-time computing
In computer science, real-time computing , or reactive computing, is the study of hardware and software systems that are subject to a "real-time constraint"— e.g. operational deadlines from event to system response. Real-time programs must guarantee response within strict time constraints...
during trading hours and published every 30 seconds. The index combines the companies that are listed in the TA-25 and TA-75 indices.
TA-25 Index
The TA-25 Index is the TASE's flagship index. It was first published in 1992 under the name "MA'OF Index". The TA-25 index tracks the prices of the shares of the 25 companies with the highest market capitalization on the exchange. It serves as an underlying asset for options and futures, Index-Linked Certificates and Reverse Certificates traded on the exchange and worldwide. The index also began on 1 January 1992 with a base level of 100.TA-75 Index
The TA-75 is a share index of the 75 most highly capitalised companies listed on the Tel Aviv Stock ExchangeTel Aviv Stock Exchange
The Tel Aviv Stock Exchange in Tel Aviv is Israel's only stock exchange.The TASE is the only public market for trading securities in Israel. It plays a major role in the Israeli economy....
, which are not included in the TA-25 index. The index began in 1999 with a base level of 100.
Weighting
Since February 2008, the TA-100 is calculated using a free float method, the total market capitalization of the companies weighted by their effect on the index, so the larger stocks would make more of a difference to the index as compared to a smaller market cap company. The basic formula for any index is (be it capitalization weighted or any other stock index).- Index level= Σ(Price of stock* Number of shares)*Free float factor/ Index Divisor.
The Free float Adjustment factor represents the proportion of shares that is floated as a percentage of issued shares. The free-float method, therefore, does not include restricted stocks, such as those held by company insiders.
A company’s weight in the index has an upper-limit of 9.8%, the weight of a company that should be higher is limited to 9.8% and the rest is divided between the other constituents of the index. Since October 2007 this restriction has set the effective weight of Teva Pharmaceutical Industries
Teva Pharmaceutical Industries
Teva Pharmaceutical Industries Ltd. , is an international pharmaceutical company headquartered in Petah Tikva, Israel. It specializes in generic and proprietary pharmaceuticals and active pharmaceutical ingredients...
at 9.8%.
To be included in the TA-25 index the company’s stock also need to adhere to the following requirement: Meet a public holding threshold of at least 25% and a minimal value of 600 million NIS (to ensure that there is a significant Free float holding, which is not controlled by insiders).
The constituents of the indices are determined twice a year; on the first trading day in January and in July. The largest companies in the TA 100 index are promoted to the TA 25 index if their market capitalisation is 20% more than a current company.
Constituents
TA-100 - Index Components - As of 10/08/2011| Name | Symbol | Market Cap (NIS millions) | Weight (%) | Sector | Comments | |
| Teva Pharmaceutical Industries Teva Pharmaceutical Industries Teva Pharmaceutical Industries Ltd. , is an international pharmaceutical company headquartered in Petah Tikva, Israel. It specializes in generic and proprietary pharmaceuticals and active pharmaceutical ingredients... Ltd. |
TEVA | 132,069 | 9.81374 | Pharmaceuticals | NASDAQ-100 dual-listed company | |
| Israel Chemicals Israel Chemicals Israel Chemicals Ltd. , also known as ICL, is a multi-national Israeli manufacturing concern that develops, produces and markets fertilizers, metals and other special-purpose chemical products.-History:... Ltd. |
ICL | 60,777 | 9.15864 | Chemicals | 53% owned by Israel Corporation Israel Corporation Israel Corporation is Israel’s largest holding company. Fifty of its manufacturing activities and 70% of its consolidated revenues derive from global operations. Its core holdings are fertilizers and specialty chemicals, energy, shipping and transportation. Israel Corp is a constituent of the... |
|
| Perrigo Company Perrigo Perrigo Company , is the largest manufacturer of private label over-the-counter pharmaceuticals in the United States. The company’s shares are traded on the NASDAQ and the Tel Aviv Stock Exchange; as a result of the merger with Agis Industries the company is a constituent of the TA-25... |
PRGO | 26,520 | 9.13462 | Pharmaceuticals | NASDAQ dual-listed company | |
| Israel Corporation Israel Corporation Israel Corporation is Israel’s largest holding company. Fifty of its manufacturing activities and 70% of its consolidated revenues derive from global operations. Its core holdings are fertilizers and specialty chemicals, energy, shipping and transportation. Israel Corp is a constituent of the... Ltd. |
ILCO | 24,096 | 2.59362 | Holding company | Has holdings in TA-100 companies Israel Chemicals Ltd. and Oil Refineries Ltd | |
| Bezeq Bezeq Bezeq, the Israeli company for communications, is a telecommunications provider in Israel.Until the mid-first decade of the 21st century when it was owned by the Israeli government, Bezeq had a monopoly on landline telephony and Internet access infrastructure... The Israel Telecommunication Corp, Ltd. |
BEZQ | 20,903 | 8.66631 | Telecommunication | ||
| Bank Leumi Bank Leumi Bank Leumi is an Israeli bank. It was founded in London as the Anglo Palestine Company on February 27, 1902, by members of the Zionist movement to promote the industry, construction, agriculture, and infrastructure of Palestine.-History:... Ltd. |
LUMI | 20,129 | 8.96689 | Banks | ||
| Bank Hapoalim Bank Hapoalim Bank Hapoalim is Israel’s largest bank. As of 31 December 2008 it had total consolidated assets of NIS 306.85 billion. The Bank has a significant presence in global financial markets. In Israel, the Group has over 260 full-service branches, eight regional business centers, and industry desks... Ltd. |
POLI | 19,824 | 6.82787 | Banks | London Stock Exchange dual-listed company | |
| Cellcom (Israel) Cellcom (Israel) Cellcom is a major Israeli telecommunications company. Founded in 1994, most of the company's business is centered around wireless service... |
CEL | 11,362 | 2.95913 | Telecommunication | NYSE dual-listed company | |
| Partner Communications Company Ltd. Partner Communications Company Ltd. Partner Communications Company Ltd. is a mobile network operator, internet Wi-Fi and fixed telephony service provider in Israel.... |
PTNR | 10,999 | 2.8972 | Telecommunication | NASDAQ dual-listed company | |
| Elbit Systems Elbit Systems Elbit Systems Ltd. is one of the world's largest defense electronics manufacturers and integrators. Established in 1967, and based in Haifa, Israel, Elbit employs 11,000 people worldwide.... |
ESLT | 10,490 | 3.1514 | Aerospace and Defence | NASDAQ dual-listed company | |
| Discount Investment Corporation Ltd. Discount Investment Corporation Ltd. Discount Investment Corporation Ltd. is a holding company based in Israel. The company is listed on the Tel Aviv Stock Exchange and is a constituent of the TA-25 Index. The company’s is controlled by IDB Holding Corporation Ltd... |
DISI | 7,409 | 0.97404 | Holding company | ||
| Delek Group Delek Group Delek Group is of one Israel's largest companies, owned by Isaac Sharon , a self-made multi-millionaire. Delek Group is involved in the energy and infrastructure, with investments in upstream and downstream energy, water desalination and power plants. Delek Group' subsidiaries are also involved in... |
DLEKG | 7,249 | 1.32168 | Holding company | ||
| MA Industries Makhteshim Agan Makhteshim Agan Industries Ltd is the world’s leading manufacturer and distributor of branded off-patent pesticides. Makhteshim-Agan is the world's seventh largest company in the global agrochemical sector with an approximately 5% market share for off-patent proprietary and branded products... (Makhteshim Agan) |
MAIN | 7,240 | 2.41295 | Chemicals | ||
| Bank Mizrahi-Tfahot Bank Mizrahi-Tfahot Bank Mizrahi-Tfahot is a bank in Israel. The fourth largest in the country, it has around 90 branches. It was formed by a merger of Bank Mizrahi HaMeuhad and Bank Tfahot in 2004.... Ltd |
MZTF | 7,005 | 2.05435 | Banks | ||
| Israel Discount Bank Israel Discount Bank Israel Discount Bank Ltd. , I.D.B., is one of Israel's three largest banks, with 260 branches, and assets of 171 billion NIS .-History:... Ltd |
DSCT | 6,923 | 1.84139 | Banks | ||
| NICE Systems NICE Systems NICE Systems Ltd. , together with its subsidiaries, provides solutions that enable enterprises and security organizations to extract insight from interactions, transactions and surveillance.... Ltd. |
NICE | 6,866 | 3.73247 | Technology | NASDAQ dual-listed company | |
| Migdal Migdal (company) Migdal Insurance and Financial Holdings Ltd. is one of the largest and oldest Israeli insurance companies. Founded in Jerusalem in 1934, the original group of investors included local Palestinian Jews, families from Egypt and Italy and Assicurazioni Generali which held a 50% stake and provided... Insurance and Financial Holdings Ltd. |
MGDL | 6,276 | 0.70976 | Insurance | ||
| Paz Oil Company Ltd. | PZOL | 5,523 | 0.78504 | Oil & Gas Services | ||
| Osem Osem (company) Osem Investments Ltd. is one of the largest food manufacturers and distributors in Israel.The group is majority owned by Nestlé S.A... |
OSEM | 5,403 | 0.85549 | Food Producers | ||
| Koor Industries Ltd. | KOR | 5,339 | 0.70883 | Holding company | ||
| Strauss Group | STRS | 5,248 | 0.74864 | Food Producers | ||
| VeriFone Holdings, Inc. VeriFone VeriFone is a company that makes point-of-sale equipment. It was founded and incorporated in Hawaii in 1981, and named itself after its first product, the name standing for Verification telephone.... |
PAY | 4,643 | 2.50737 | Technology | NASDAQ dual-listed company | |
| Clal Insurance Enterprises Holdings Ltd. | CLIS | 4,235 | 0.75083 | Insurance | ||
| Gazit-Globe Ltd. | GLOB | 4,186 | 0.74648 | Real Estate | ||
| Delek Automotive Systems Ltd. Delek Group Delek Group is of one Israel's largest companies, owned by Isaac Sharon , a self-made multi-millionaire. Delek Group is involved in the energy and infrastructure, with investments in upstream and downstream energy, water desalination and power plants. Delek Group' subsidiaries are also involved in... |
DLEA | 4,048 | 0.48447 | Automobiles Retailers | Owened by Delek Group | |
| Delek Drilling Limited Partnership Delek Group Delek Group is of one Israel's largest companies, owned by Isaac Sharon , a self-made multi-millionaire. Delek Group is involved in the energy and infrastructure, with investments in upstream and downstream energy, water desalination and power plants. Delek Group' subsidiaries are also involved in... |
DEDR.L | 3,839 | 0.61611 | Oil & Gas Producers | Owened by Delek Group | |
| Avner Oil Exploration Ltd. Partnership | AVNR.L | 3,822 | 0.92475 | Oil & Gas Producers | ||
| Ormat Industries Ormat Industries Ormat Industries Ltd. is a provider of alternative and renewable energy technology. To date the company has installed over 750 power units worldwide... |
ORMT | 3,753 | 0.93196 | Alternative Energy | Majority owned subsidiary Ormat Technologies listed under ORA on NYSE | |
| Shufersal Shufersal Shufersal , commonly known as Super-Sal, is the largest supermarket chain in Israel. In 2009, Shufersal had 240 stores and 10,000 employees. Shufersal stock is traded on the Tel Aviv stock market and appears on the Tel Aviv 100 index.-History:... Ltd |
SAE | 3,590 | 0.76632 | General Retailers | ||
| Harel Insurance Inv. & Fin. Services Ltd | HARL | 3,583 | 0.7641 | Insurance | ||
| BAZAN - Oil Refineries Ltd Oil Refineries Ltd Oil Refineries Ltd. , located in Haifa Bay, is Israel's largest Oil refinery. Using its state-of-the-art industrial facilities, ORL is capable of refining approximately 9.8 million tons of crude oil per year providing a variety of products used in industrial operation, transportation, private... |
ORL | 3,360 | 0.62958 | Oil & Gas Producers | ||
| First International Bank of Israel First International Bank of Israel The First International Bank of Israel is an Israeli bank founded in 1972 through the merger of several smaller banks. It is the fifth largest bank in Israel... FIBI |
FTIN5 | 3,136 | 0.42603 | Banks | ||
| Isramco, Inc. | ISRA.L | 3,112 | 1.07792 | Oil & Gas Producers | ||
| HOT Telecommunication Systems Ltd. Hot (Israel) HOT Telecommunication Systems Ltd. is a company that provides cable television, last-mile Internet access, broadband and telecommunication services in Israel. It also provides various data transmission services and network services at different rates, services to the business sector and other... |
HOT | 2,791 | 0.40197 | Telecommunication | ||
| Clal Industries and Investments Ltd. | CII | 2,682 | 0.55449 | Holding company | ||
| Kardan N.V. | KRNV | 2,591 | 0.63794 | Holding company | ||
| Housing & Construction Holding Company Limited Housing & Construction Holding Company Limited The Housing & Construction Holding Company Limited is one of the largest construction and infrastructure companies in Israel. Affiliated with the Shari Arison group, it is also an international holding and investment company.... |
SKBN | 2,563 | 0.48662 | Construction | ||
| Menorah Mivtachim Holdings Ltd | MMHD | 2,439 | 0.44826 | Insurance | ||
| Elbit Imaging Ltd | EMIT | 2,330 | 0.64221 | Holding company | NASDAQ dual-listed company | |
| Africa Israel Investments Africa Israel Investments Africa Israel Investments Ltd. - AFI GROUP - is an international holding and investment company based in Yehud, Israel.AFI Group consists of several private and public companies active in areas such as real estate, construction, infrastructure, manufacturing, tourism and leisure.The company’s... Ltd. |
AFIL | 2,259 | 0.3214 | Holding company | ||
| The Phoenix Holdings Ltd. | PHOE1 | 2,046 | 0.23536 | Insurance | ||
| Delek Israel Fuel Corp. Ltd Delek Group Delek Group is of one Israel's largest companies, owned by Isaac Sharon , a self-made multi-millionaire. Delek Group is involved in the energy and infrastructure, with investments in upstream and downstream energy, water desalination and power plants. Delek Group' subsidiaries are also involved in... |
DLKIS | 1,904 | 0.2006 | Oil & Gas Services | ||
| Mellanox Technologies, Ltd. | MLNX | 1,814 | 0.5424 | Technology | ||
| Bayside Land Corporation Ltd. (Gav-Yam) | BYSD | 1,714 | 0.2831 | Real Estate | ||
| Frutarom Industries, Ltd. Frutarom Frutarom Industries Ltd. is one of the world's leading flavor and fragrance companies, in 2008 it had sales of over $473 million. The company’s shares are traded on the London Stock Exchange and the Tel Aviv Stock Exchange, where it is a constitute of the TA-100 Index of leading... |
FRUT | 1,657 | 0.52928 | Chemicals | ||
| FIBI | FIBI | 1,627 | 0.18882 | Holding company | ||
| Given Imaging Given Imaging Given Imaging is an Israeli medical technology company that manufactures and markets diagnostic products for the visualization and detection of disorders of the gastrointestinal tract.... |
GIVN | 1,607 | 0.20714 | Medical Equipment | NASDAQ dual-listed company | |
| Melisron Ltd. | MLSR | 1,571 | 0.20714 | Real Estate | ||
| Blue Square-Israel Ltd. | BSI | 1,546 | 0.23637 | General Retailers | ||
| Amot Investments Ltd. | AMOT | 1,536 | 0.17181 | Real Estate | ||
| Alony-Hetz Properties & Investments Ltd. | ALHE | 1,499 | 0.40301 | Real Estate | ||
| Gazit Incorporated | GZIT | 1,428 | 0.19388 | Real Estate | ||
| British Israel Investments Ltd. | BRTS | 1,384 | 0.15402 | Real Estate | ||
| Nitsba Holdings 1995 Ltd. | NTBA | 1,307 | 0.27466 | Real Estate | ||
| Union Bank of Israel Union Bank of Israel The Union Bank of Israel, Ltd., more widely known by its Hebrew name, Bank Igud, pronounced Eegude, is the sixth largest Israeli bank with thirty branches spread around the country. The bank complies with the ramifications of loans and interest in Judaism.Zeev Abeles is the chairman of the board... |
UNON | 1,289 | 0.21903 | Banks | ||
| Jerusalem Economy Ltd. (formerly Jerusalem Economic Corporation Ltd.) | ECJM | 1,272 | 0.18991 | Real Estate | ||
| Electra Ltd. | ELTR | 1,226 | 0.23347 | Technology | ||
| NetVision Ltd. | NTSN | 1,161 | 0.18545 | Telecommunications | ||
| Alrov Properties & Lodgings Ltd. | ALRO | 1,161 | 0.16 | Real Estate | ||
| Africa Israel Properties Ltd. | AFPR | 1,106 | 0.14689 | Real Estate | ||
| Ceragon Networks Ltd. Ceragon Ceragon Networks Ltd. provides high-capacity microwave Ethernet and TDM wireless backhaul solutions to wireless service providers as well as private businesses... |
CRNT | 1,087 | 0.46747 | Technology | NASDAQ dual-listed company | |
| Hadera Paper Ltd. | HAP | 1,079 | 0.23495 | Paper | ||
| FMS Enterprises Migun Ltd | FBRT | 1,075 | 0.19146 | Aerospace and Defence | ||
| Ness Technologies Inc | NSTC | 1,074 | 0.49795 | Software & Computer Services | ||
| EZchip Semiconductor Ltd. | EZCH | 1,050 | 0.45611 | Technology | ||
| Granite Hacarmel Investments Ltd. | GRNT | 1,047 | 0.1433 | Holding Company | ||
| 012 Smile Communications Ltd. | SMLC | 988 | 0.11937 | Telecommunications | ||
| Elco Holdings Elco Holdings Elco Holdings is one of the largest Israeli industrial groups. Elco has several production centres in Israel, Italy, France and China where it produces household appliances, air conditioning units and electro mechanical equipment.... |
ELCO | 980 | 0.15231 | Holding company | ||
| Suny Electronics Ltd. | SUNY | 933 | 0.10579 | Electronics Retail | ||
| Otzar Hityashvuth Hayehudin Ltd | OHH | 883 | 0.15254 | Holding company | ||
| DS Apex Holdings Ltd. | DSAP | 878 | 0.17875 | Financial Services | ||
| Mivtach Shamir Holdings Ltd. | MISH | 875 | 0.155 | Holding company | ||
| Alvarion Alvarion Alvarion Ltd. , is a 4G communications company. The company manufactures and exports a range of network solutions, including WiMAX, IEEE, PtMP, TD-LTE and WiFi to service providers and enterprises covering a variety of industries such as mobile broadband, residential and business broadband,... Ltd. |
ALVR | 871 | 0.47738 | Technology | NASDAQ dual-listed company | |
| Matrix IT ltd. | MTRX | 861 | 0.2089 | Software & Computer Services | ||
| RAMI LEVI Rami Levi Hashikma Marketing Rami Levi Hashikma Marketing is the third largest Israeli retail supermarket chain, behind Shufersal Ltd. and Alon Holding–Blue Square Ltd., with annual revenues of NIS 1.81 billion . Founded in 1976 on Rehov Hashikma in the Mahane Yehuda Market district, Rami Levi was Israel's first... |
RMLI | 853 | 0.12915 | Food Retailers | ||
| Ituran Location and Control Ltd. Ituran Ituran Location and Control Ltd. , is an Israeli company that provides stolen vehicle recovery and tracking services, and markets GPS wireless communications products. Ituran is traded on NASDAQ and the Tel Aviv Stock Exchange and is included in the TA-100 Index. Ituran has over 1,300 employees... |
ITRN | 843 | 0.23395 | Technology | ||
| Retalix Ltd. | RTLX | 839 | 0.3225 | Software | ||
| Airport City Ltd. | ARPT | 817 | 0.12508 | Real Estates | ||
| J.O.E.L. Jerusalem Oil Exploration Ltd. | JOEL | 798 | 0.19775 | Oil & Gas Producers | ||
| Golf & Co | GOLF | 791 | 0.12179 | Retailers | ||
| Blue Square Real Estate Ltd | BLSR | 787 | 0.08493 | Real Estate | ||
| Naphtha Explorations Limited Partnership | NFTA | 784 | 0.12448 | Oil & Gas Producers | ||
| Delek Real Estate Ltd. | DLKR | 774 | 0.13173 | Real Estate | ||
| Avgol Industries Ltd. | AVGL | 715 | 0.11918 | |||
| Africa Israel Residences Ltd. | AFRE | 714 | 0.09517 | Real Estate | ||
| Fundtech Ltd. | FNDT | 696 | 0.12615 | Software | ||
| Kamada Ltd. | KMDA | 677 | 0.22601 | Biotechnology | ||
| Plasson Industries Ltd. | PLSN | 670 | 0.11102 | Plastic products | ||
| Kardan Israel Ltd. | KRIS | 654 | 0.09107 | Holding company | ||
| Gilat Satellite Networks Ltd. | GILT | 636 | 0.24315 | Technology | ||
| Neto M.E. Holdings Ltd. | NTO | 566 | 0.12752 | |||
| Maabarot Products Ltd. | MABR | 562 | 0.12034 | Food Producers | ||
| Internet Gold-Golden Lines Ltd. | IGLD | 558 | 0.0843 | Telecommunications | ||
| Queenco Leisure International Ltd. | QNCO | 506 | 0.08683 | Travel and Leisure | ||
| Scope Metals Group Ltd. | SCOP | 468 | Metal Prodcuts | |||
| El Al El Al El Al Israel Airlines Ltd , trading as El Al , is the flag carrier of Israel. It operates scheduled domestic and international services and cargo flights to Europe, North America, Africa and the Far East from its main base in Ben Gurion International Airport... Israel Airlines Ltd. |
ELAL | 466 | 0.10385 | Travel and Leisure | ||
| Formula Systems (1985) Ltd. | FORT | 455 | 0.11184 | Software | ||
| Radvision Ltd. | RVSN | 454 | 0.08736 | Technology | ||
| Adgar Investment and Development Ltd. | ADGR | 453 | 0.08979 | Real Estate | ||
| Ampal-American Israel Corporation | AMPL | 453 | 0.08499 | Holding company | ||
| Brainsway Ltd. | BRIN | 439 | 0.09312 | biotechnology |
Former members of the index
- Elite - Merged with the Strauss Group
- Agis Industries (1983) Ltd. - Acquired by PerrigoPerrigoPerrigo Company , is the largest manufacturer of private label over-the-counter pharmaceuticals in the United States. The company’s shares are traded on the NASDAQ and the Tel Aviv Stock Exchange; as a result of the merger with Agis Industries the company is a constituent of the TA-25...
(now known as Perrigo Israel Pharmaceuticals)