At least seven people were killed and more than 100 injured when an Iranian ballistic missile hit Bat Yam, just south of Tel Aviv, overnight on Sunday, domestic media reported. Other reports put the death toll at six people. Israel's police said residential buildings took a "direct hit that caused extensive damage."

Explosions have been seen over Tel Aviv and Jerusalem as the country faces yet another barrage of missiles from Iran. It comes after explosions were reported in central Tehran, as attacks continue between Iran and Israel.

Tel Aviv stocks erased morning losses and moved nearly 1% higher on Sunday in the first trading session since the start of a wave of missile strikes between Israel and Iran on Friday, as Israel and its economy attempt to remain as open as possible.