Turkish main stock index closes Monday with losses

(MENAFN) The Turkish benchmark stock index, the BIST 100, closed on Monday at 9,031.64 points, marking a decline of 0.85 percent from the previous session. The index began the week at 9,155.77 points and ultimately lost 77.7 points by the close compared to Friday’s figures. During the trading day, the index fluctuated, hitting a low of 9,005.39 points and a high of 9,195.49 points.

In the trading session, 58 indices registered losses, while 41 indices managed to gain value. This mixed performance indicates a challenging market environment for investors. The total transaction volume reached 69 billion Turkish liras (approximately USD2.02 billion), reflecting a significant level of activity despite the overall decline in the index.

The overall market capitalization of the BIST 100 index was recorded at 7.87 trillion liras (around USD230.5 billion), illustrating the size of the Turkish equity market. The fluctuations in the index and trading volumes highlight the ongoing volatility and investor sentiment affecting the market.

In the foreign exchange market, the USD/TRY exchange rate stood at 34.2680 as of 6:20 PM local time (15:20 GMT), while the EUR/TRY and GBP/TRY rates were at 37.6160 and 44.8450, respectively. Additionally, the price of an ounce of gold was noted at USD2,645.20, and Brent crude oil traded at approximately USD79.95 per barrel, further indicating the broader economic context impacting Turkey’s financial landscape.

MENAFN08102024000045015839ID1108756756