Israel's Blue and White alliance leader Benny Gantz said he would start work on a "broad national unity government" as exit polls suggested his party would be the largest in the Knesset.

Speaking to supporters at an election rally in Tel Aviv on Tuesday night, the former military chief said he had spoken to leaders of the left-wing parties and was open to negotiating with "everyone", including potential kingmaker and Yisrael Beiteinu leader Avigdor Lieberman.

He was joined on stage by his coalition partners Gabi Ashkenazi, Moshe Ya'alon and Yair Lapid.

Exit polls suggest the race is too close to call. The Blue and White alliance led by former general Benny Gantz is projected to win between 32 and 34 seats in the 120-seat Knesset, and Israeli Prime Minister Benjamin Netanyahu's Likud party 31 to 33.

Lieberman's party may hold sway in a new government.

Coalition negotiations are expected to start soon with results coming on Wednesday morning.

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