Modest to sharp losses were the order of the first hour of trading on the Tel Aviv Stock Exchange, Tuesday. About 45 minutes into the session, the TA composite index was down 2.33 percent at 923.43, paralleling the TA 100, which stood at 935.87, down 2.44 percent, and the Maof 25 most-widely-invested issues, which declined 2.4 percent to 1,035.62. The Bluetech technology index's 2.4 percent drop translated to 244.30, including a 2.02 percent decline by the biomed stocks to 645.19.
Worst hit were the banks, which fell 3.35 percent to 949.22. Combined with a 2.09 percent drop by the insurance issues to 1,051.77, it made for a 2.69 percent decline by the financial institutions to 905.94. The media and communications issues fell 1.86 percent to 756.62, while the real estate stocks stood at 257.02 down 1.6 percent, and the gas and oil stocks declined 1.55 percent to 978.40. The market is being driven by uncertainty over the financial situation in Greece and other parts of Europe.