tase-stock-analysis

TASE Stock Analysis

Legal notice

This is a free information tool operated by an AI model. It gathers data that has been published to the public and presents it in an organised form. The operators of this tool hold no personal interest in the securities or financial assets it mentions, and receive no consideration, commission, or benefit of any kind for presenting them. All of its outputs are produced automatically by an AI model, with no involvement, review, or approval by a licensed investment adviser.

The output is not investment advice, not investment marketing, and not a recommendation to buy, sell, or hold any security or financial asset. It is not a substitute for advice that takes account of the particular circumstances and needs of each person, and it does not consider your financial position, your investment objectives, or the risk you are able to bear. Market data may be partial, delayed, or wrong, and an AI model may err, omit data, or present a wrong conclusion. Consult a licensed adviser before any investment decision and verify every figure against the official source. All use of its output is the user's sole responsibility.

Instructions

Step 1: Identify the Analysis Type

Ask the user what kind of analysis they need:

Type	Hebrew	Description	Key Data
Index tracking	Index tracking	TA-35 or TA-125 index performance	Index composition, weight, performance
Single stock	Stock analysis	Individual TASE-listed stock analysis	Price, volume, fundamentals
Dual-listed	Dual company	Companies listed on TASE + NASDAQ/NYSE	Arbitrage, currency effect, tax implications
Maya filing	Form 867 reporting	TASE disclosure filings lookup	Material events, financial reports, insider trades
Capital gains	Capital gains	Tax calculation on securities gains	25% tax rate, exemptions, offsetting losses

Step 2: Gather Market Data

Depending on the analysis type, collect:

Index data: Use scripts/fetch_tase_data.py to retrieve TA-35 or TA-125 composition and weights
Stock data: Ticker symbol (TASE uses Hebrew names or numeric codes), current price, volume
Dual-listed data: Both TASE ticker and US ticker (e.g., NICE on TASE and NICE on NASDAQ)
Maya filings: Company name or securities number, date range for filings

Step 3: Apply Israeli Context

For any stock analysis, layer in Israeli-specific factors:

Bank of Israel interest rate: Current BOI rate affects valuations and sector rotation
Shekel/Dollar exchange rate: Critical for dual-listed arbitrage and foreign exposure
Sector composition: Israeli market heavy in banking (Hapoalim, Leumi, Discount), pharma (Teva), tech
Market hours: TASE trades Monday-Friday. Monday-Thursday 09:59-17:14, Friday shortened session 09:59-13:50. No trading on Saturday (Shabbat) or Jewish holidays

Step 4: Calculate Capital Gains Tax (Mas Revach Hon)

When the user has sold or plans to sell securities:

Scenario	Tax Rate	Notes
Individual, non-substantial shareholder	25%	Standard rate on the real gain
Substantial shareholder (10% or more)	30%	On the real gain, where the seller held 10%+ at the sale or during any of the 12 months before it
High-income individual	+ surtax (mas yesef)	A separate surtax applies above an annual threshold that is indexed each year (ILS 721,560 in 2026): 3% on total taxable income above the threshold, plus a further 2% from 2025 on the capital-source part above it = up to 5% on the slice over the threshold, on top of the 25%/30%. On the slice above the threshold, the marginal rate on securities gains is the base rate plus that 5% (so ~30% for a 25% payer, more for a substantial shareholder).
Bonds and funds (not shares)	15% or 25%	Non-CPI-linked shekel bonds and makam: 15% on the nominal gain. CPI-linked bonds: 25% on the real gain. ETFs (kranot sal): 25%. See `references/capital-gains.md`.
Inflationary amount (CPI rise, or the exchange rate for a foreign-currency security)	Exempt	Only the real gain is taxed; pre-2003 holdings follow transition rules
Offsetting losses (kizuz hefsedim)	Allowed	Offset capital gains in the same year; unused losses carry forward and later offset only capital gains
Foreign resident	Treaty-dependent	Check double taxation treaty

Calculation:

net_gain = sale_price - purchase_price - transaction_costs
real_gain = net_gain - inflationary_amount  # CPI rise on the cost (FX rate for a foreign-currency security); take it from the broker's tax statement
tax = real_gain * 0.25  # or 0.30 for substantial shareholder (10%+)

Step 4b: Dividend Tax (Mas al Dividend)

Dividends are taxed separately from capital gains, and every stock analysis should account for them:

25% for an individual non-substantial shareholder, 30% for a substantial shareholder (10%+). The same surtax (mas yesef) applies to dividend income above the annual threshold.
Dividends are withheld at source (nikui mas bemakor) by the paying company or broker, the investor receives the net amount.

Tax withheld at source (nikui b'makor): For securities held through an Israeli broker, BOTH capital-gains tax and dividend tax are auto-withheld at source. A return may still be required to offset losses across different brokers, reclaim over-withholding, or when other mandatory-filing rules apply, so "withheld at source" does not always mean "nothing to file". For a FOREIGN brokerage (e.g. Interactive Brokers), nothing is withheld locally: the investor must pay a semi-annual capital-gains advance (mikdama) by 31 January and 31 July on gains realized in the preceding half-year, and report the gains in the annual income-tax return (its capital-gains appendix). Missing the advance accrues interest and CPI linkage. So the practical answer to "what's my tax?" depends on where the securities are held.

Losses (kizuz hefsedim): A capital loss offsets all capital gains, including gains from Israeli or foreign securities and from the sale of property (a loss on a non-Israeli asset first offsets foreign-source gains). A securities loss can also offset interest and dividend income from securities, where that income was taxed at no more than 25%. Unused losses carry forward indefinitely, but in later years they offset only capital gains, not dividends or interest. There is NO annual tax-free capital-gains allowance in Israel (unlike the UK/US), every shekel of net real gain is taxable.

Tax-advantaged vehicles: A keren hishtalmut, kupat gemel, or pension fund has its own tax regime, different from a direct brokerage account. When comparing an investment held directly vs. inside such a vehicle, check the vehicle's current tax terms rather than assuming the 25% direct-account rate.

Step 5: Evaluate Dual-Listed Opportunities

For dual-listed companies (e.g., NICE on NASDAQ, Teva and ICL on NYSE). Confirm the listing is still live before comparing: companies leave the dual-listed set through mergers and take-privates, and some well-known Israeli tech companies (e.g. Check Point) trade only in the US and have no TASE price at all:

Compare TASE price (in NIS) vs. US price (in USD) using current exchange rate
Account for ADR ratio (some dual-listed have different share ratios)
Factor in different trading hours (TASE and US markets now overlap on Monday-Friday, but Friday TASE closes early at 13:50)
Note tax treaty implications -- Israeli residents pay Israeli capital gains tax regardless of which exchange. For a security held by an individual that is denominated in a foreign currency (e.g. a share bought in USD), the Ordinance uses that currency's exchange rate as the index (Section 88), so the part of the shekel gain that comes only from the dollar strengthening against the shekel is the exempt inflationary amount, not taxable gain. Do not tax the FX movement. US tax withheld is generally creditable against the Israeli tax under the Israel-US treaty (zikui mas zar) to avoid double taxation. The same applies to US dividends on dual-listed shares: US withholding (file a W-8BEN with the broker so the treaty rate applies) is credited against the Israeli 25%/30% dividend tax. The credit is capped at the Israeli tax on that same foreign income, so foreign tax above that cap is not refunded; the excess can only be carried forward under the Ordinance's conditions

Step 6: Review Maya Filings

Check relevant disclosures on the Maya system (TASE disclosure platform):

Immediate reports: Material events that affect stock price
Periodic reports: Quarterly and annual financial statements
Related party transactions: Insider trades and holdings changes
Shelf offerings: Potential dilution events

Summarize key findings and flag any material items.

MCP Integration: Live TASE Data

For live market data, use the TASE MCP Server (tase-mcp, source in skills-il/mcps).

Prerequisites:

A TASE Data Hub developer account: sign in at https://datahubapi.tase.co.il, create an application, and register it for each product you need (some products are paid and need TASE commercial approval). Calling a product your key is not registered for returns HTTP 403.
MCP server: npx -y @skills-il/tase-mcp (Node.js 18+)

Setup: Set the environment variable TASE_API_KEY to the apikey of your application.

Selected MCP Tools (the server exposes 36; these are the ones this skill uses most):

Tool	What it does
`tase_list_indices`	List all TASE indices with their IDs
`tase_get_index_components`	Constituents and weights of an index on a trade date
`tase_get_index_last_rate`	Most recent rate of an index
`tase_list_companies`	Companies with TASE-traded securities, including dual-listing flags
`tase_list_traded_securities`	Securities that traded on a given date
`tase_list_delisted_securities`	Securities delisted in a given year/month
`tase_get_trading_schedule`	Trading and vacation schedule
`tase_list_funds`	Mutual funds registered on TASE

Note: The MCP does not read Maya filings; look those up at https://maya.tase.co.il. Without MCP, this skill provides analysis guidance using general market knowledge. With MCP, the agent fetches live market data directly from the official TASE Data Hub.

Examples

Example 1: TA-35 Index Overview

User says: "Show me the current TA-35 composition and top performers" Actions:

Run python scripts/fetch_tase_data.py --index TA35
Display top holdings by weight (Bank Hapoalim, Bank Leumi, ICL, Teva, etc.)
Show recent performance vs. BOI interest rate context
Note upcoming ex-dividend dates for major components Result: Summary table of TA-35 with weights, performance, and key metrics

Example 2: Dual-Listed Arbitrage Check

User says: "Compare NICE stock price on TASE vs NASDAQ" Actions:

Fetch NICE TASE price (in agorot, divide by 100 to get shekels) and NASDAQ price (in USD)
Convert using current BOI representative rate (sha'ar yatzig)
Calculate premium/discount between exchanges
Note that arbitrage is limited by settlement timing and currency conversion costs Result: Price comparison with exchange rate analysis and practical arbitrage assessment

Example 3: Capital Gains Tax on Stock Sale

User says: "I sold Teva shares for 120,000 NIS, bought them for 80,000 NIS. What's my tax?" Actions:

Identify: Net gain = 120,000 - 80,000 = ILS 40,000
Check: Standard rate (25%) assuming non-substantial shareholder, and assuming no CPI rise over the holding period (otherwise subtract the inflationary amount first)
Calculate: Tax = 40,000 * 0.25 = ILS 10,000
Note: Capital losses (hefsedei hon) from the same year, or carried forward from earlier years, can be offset against this gain Result: Capital gains tax of 10,000 NIS, with guidance on loss offsetting and filing

Example 4: Maya Filing Lookup

User says: "Check recent Maya filings for Bank Hapoalim" Actions:

Look up Bank Hapoalim on Maya (securities number 662577)
Filter recent immediate reports and periodic filings
Summarize material events (dividends, board decisions, regulatory actions)
Flag any insider trading reports Result: Summary of recent disclosures with material items highlighted

Bundled Resources

Scripts

scripts/fetch_tase_data.py -- Fetches TASE index data (TA-35, TA-125), stock quotes, and market status. Run: python scripts/fetch_tase_data.py --help

References

references/tase-api.md -- TASE API endpoints for market data, index composition, and Maya filings search. Consult when integrating live market data.
references/capital-gains.md -- Israeli capital gains tax rules for securities: rates, exemptions, loss offsetting, substantial shareholder rules, and foreign resident treaty considerations.

Gotchas

Since January 2026, TASE trades Monday through Friday (previously Sunday-Thursday). Friday sessions are shortened (09:59-13:50). Agents trained on pre-2026 data may still assume Sunday-Thursday trading and schedule queries on Sundays, which are now non-trading days.
TASE ticker symbols follow a different format than US exchanges. Israeli stocks use numeric securities codes alongside short Hebrew names. Always verify a security number before using it by opening https://market.tase.co.il/en/market_data/security/662577 and swapping the final path segment for the code you want (662577 = Bank Hapoalim, 604611 = Bank Leumi). TASE securities also carry long-standing English alpha symbols (e.g. POLI = Hapoalim, LUMI = Leumi, TEVA, NICE, ICL) alongside the numeric codes; prefer the alpha symbol for clarity (note Leumi's symbol is LUMI, not LEUMI). These symbols are not new, they have existed for years. Never hardcode security numbers from memory; fetch them from the TASE OpenAPI by company name.
Israeli stock prices on TASE are quoted in agorot (1/100 of a shekel), not in shekels. Agents may display raw prices without dividing by 100, showing prices 100x too high.
Dual-listed Israeli companies (e.g., NICE, Teva) trade on both TASE and a US exchange with different prices due to exchange rate fluctuations. Agents may not reconcile the price difference. Agents also assume a company is dual-listed because it is Israeli: Check Point, for example, has no TASE listing, and Sapiens stopped trading after being taken private. Check the listing before quoting a TASE price.

Troubleshooting

Error: "TASE ticker not found"

Cause: TASE uses numeric securities numbers and Hebrew names, not US-style tickers Solution: Search by company Hebrew name or securities number (mispar niyar erech). Use Maya search for lookup.

Error: "Exchange rate mismatch for dual-listed"

Cause: Using stale or non-representative exchange rate for comparison Solution: Use the Bank of Israel representative rate (sha'ar yatzig), and check its publication time on the Bank of Israel site rather than assuming one. For intraday, note rates are indicative only.

Error: "Capital gains calculation unclear"

Cause: Complex scenarios like partial sales, inflationary adjustments, or inherited shares Solution: For shares eligible for inflationary adjustment (varies by acquisition date and asset type), consult current tax regulations for specific dates. Inheritance is not a taxable sale, and inherited shares get NO step-up to market value: when the deceased died after 31 March 1981, the heir takes the deceased's original cost and acquisition date (Section 88 of the Income Tax Ordinance), so the gain on a later sale runs from the deceased's purchase. Consult a tax advisor (yo'etz mas) for complex cases.