Cellcom is up 3% on the market’s highest turnover – NIS 17 million
At the start of trading, a large entity sold a package of NIS 15.7 million at the base price in the Jumbo deal; From the moment of the transaction, the share rises
Cellcom shares rose 2.81% this morning, after the Jumbo deal with the opening of trading (at the base rate), during which 1.47 million shares of Cellcom were transferred for NIS 15.7 million.
As of the date of the transaction, Cellcom had risen at a relatively exceptional rate of 3%. It seems that the deal “squeezed pressure” among investors who were expecting the sale of the same body.
Jumbo transactions are matching transactions between a buyer and a seller who have coordinated the transaction between them (share name, number of units, and transaction price) and execute the transaction during trading. These transactions have existed on the stock exchange for more than a decade and constitute a substitute for an off-floor transaction. These transactions have an effect on the share price, as opposed to off-floor transactions.
One of the reasons why the stock exchange decided to mark the corresponding transactions to give investors a full picture of the trading situation. When Mrs. Cohen from Hadera sees a large-scale deal, she will know that this is a suitable deal, not an ordinary deal. One of the advantages of a matching transaction over an off-exchange transaction is that the information on a matching transaction is immediately published (in the book of transactions) as opposed to an off-floor transaction that investors are exposed to only at the end of trading.
The jumbo deal is a coordinated deal between two people, but it affects the share price. For the most part, this is a large-scale transaction, and therefore in shares with lower negotiability, a single jumbo transaction may have an effect on the closing price of the share at the end of the trading day.