That ends our live coverage of Israel's election night. You can catch the latest on the coalition building here.

Just to recap: exit polls in Israel's election suggest a very close race. Prime Minister Benjamin Netanyahu described the projected results as a great victory for his right-wing Likud party. But his main rival, Yitzhak Herzog of the centre-left Zionist Union, said he was more likely to be asked to form a government. The exit polls suggest the parties are neck-and-neck with 27 seats each. Both would need the support of other parties to form a coalition government - a process that could take several weeks.

Yolande Knell
BBC News, Tel Aviv

Shortly after midnight local time, Mr Herzog told an expectant crowd that the results were "a great achievement". He said he still hoped to form a new government that would tackle the social issues on which they fought this election and which have appealed to Israel's struggling middle class.

Yolande Knell
BBC News, Tel Aviv

There was chanting and clapping at the Zionist Union headquarters but this wasn't the party that activists had hoped for. Just a small gaggle stood waving flags while others stood nervously poring over the exit poll results - trying to determine their meaning. There was a long delay before the Labour leader, Yitzhak Herzog, took to the stage with his political partner, Tzipi Livni of Hatnua. The two had met soon after the early voting indications came out and were contacting senior figures in other parties, sounding them out to join a potential coalition.

Image source, EPA

The BBC's Jonathan Josephs understands, external that rumours that Israel's President Reuven Rivlin wants a national unity government did not come from his office.

Partial results are available in Hebrew on the Central Elections Committee's website, external. With more than 65% of ballots counted, Likud currently has 24.6% of the vote and the Zionist Union 18.9%. The threshold for parties to be in the Knesset is 3.25% of the vote, or about four seats.

Official results from Tuesday's election won't be known for several days. The Central Elections Committee expects about 95% of the votes to have been counted by early on Wednesday morning. The remaining 5% - ballots cast by military personnel, prisoners, diplomats and hospital patients - will not be declared until Thursday night or Friday morning. Given the predicted closeness of the result, that 5% could make all the difference.

Political analyst and pollster Mitchell Barak tells the BBC chief international correspondent Lyse Doucet: "Netanyahu's message was of scaring, defence - 'We are in trouble'. Whereas Hertzog was giving the message of hope, the message of peace, the message of the future. Two different messages. And the same electoral result."

Jeremy Bowen
BBC Middle East editor

Mr Netanyahu's premature declaration of victory was based on his confidence that he has more allies among the smaller parties than Mr Herzog. This is the time when political minnows can become kingmakers, demanding ministerial posts and expensive favours for their voters in return for support. The president has indicated that a government of national unity including both main parties is the best option. That doesn't necessarily mean that kind of coalition will emerge. And if it does anyone hoping for a revival of the peace process with the Palestinians will be disappointed. During the campaign Mr Netanyahu said publicly for the first time that he was against the establishment of an independent Palestine.

Jeremy Bowen
BBC Middle East editor

Mr Netanyahu is claiming victory. Mr Herzog is saying that he hasn't lost. That means the serious wrangling over the leadership and composition of the next coalition has started. The president has to decide who will be given the job of prime minister-designate and the chance to try to form a coalition. Israel's form of proportional representation always produces smaller parties and coalition government.

Image source, Reuters

Lyse Doucet
Chief international correspondent, Jerusalem

It is a remarkable victory for Benjamin Netanyahu. This election was widely described as a referendum on his last six years of rule, and in the last few days of the campaign, he was warning of, as he saw it, a great danger of him not returning. His panic - the promises, the calls to voters to cast their ballots - went right up to the moment the polls closed. So the fact his Likud party came out with either 27 or 28 seats is a remarkable comeback.

Another post on Mr Netanyahu's official Twitter account, external says: "Every family, soldier, citizen, Jewish or not are important to me! We will form a strong government to work for them." A second promises: "We will lower housing prices & the cost of living."

Michael Shuval
Producer, BBC Arabic

tweets, external: Crowd at Likud headquarter in Tel-Aviv chant at Netanyahu: "No to unity government!" #IsraeElex

While Mr Netanyahu delivered his speech in Tel Aviv, a statement was posted on his official Twitter feed praising the people of Israel.

Image source, Twitter

The Likud leader says he spoke with the heads of other right-wing parties to discuss forming a government "without delay". "Reality does not take a break," he adds.

Mr Netanyahu adds: "Now we have to form a strong and stable government that will take care of the welfare and security of all of Israel's citizens."

Image source, AP

Mr Netanyahu thanks his supporters for their rapturous welcome. "Against all odds, we have achieved a big victory for the Likud party," he says. "We have achieved a big victory for our people."

Benjamin Netanyahu has arrived at Likud party headquarters in Tel Aviv. He will speak soon.

Image source, AP

Kevin Connolly
BBC News, Tel Aviv

The Likud activists were dancing and singing within minutes of the TV stations broadcasting their exit polls quite simply because they can see a relatively simple pathway towards the formation of another right-wing coalition. It would involve Mr Netanyahu teaming up with the secularists of Yisraeli Beitenu and Kulanu and adding the religious nationalists of Jewish Home and the parties that represent ultra-orthodox Jews like Shas. There'd be personal ambitions to balance one against the other and each of those parties would have a shopping list of demands that might not always be compatible with the demands of the others. But the outline of a workable coalition can be seen much more easily from this vantage point than from the point of view of the leftist Zionist Union led by Yitzhak Herzog of the Labour Party.

Israel election: An end or new era for Netanyahu?

Image source, Getty Images

Dan Williams of the Reuters news agency tweets, external: In his speech, Herzog twice said now's the time to "sleep off" the stress of the election race. Not quite a message of leadership momentum.