Turkey, Economy

Borsa Istanbul up at close

Borsa Istanbul rises nearly 580 points, Turkish lira gains value against foreign currencies

14.11.2018
Borsa Istanbul up at close

By Gokhan Ergocun

ISTANBUL

Turkey's benchmark stock index closed Wednesday up 0.62 percent at 93,287.16 points with a trading volume of around 7.5 billion Turkish liras ($1.37 billion). 

Borsa Istanbul's BIST 100 index ended the day with a 578.60-point increase from Tuesday's close of 92,708.56 points, while it opened the day at 92,530.56 points.

The benchmark index hovered between 91,945.76 points and 93,691.34 points, while 44 stocks on the index were on the rise, 47 on the decline, and nine flat compared to the previous close.

The total market value of listed shares on the BIST 100 was around 606.55 billion Turkish liras ($110.7 billion) at close, while the banking and holding sector indices climbed 0.76 percent and 0.91 percent, respectively.

Among all sectors, the leasing factoring sector index was the best performer, rising 14.49 percent, and the nonmetal mineral product sector index saw the biggest drop, losing 1.06 percent.

Shares of leasing company Is Finansal Kiralama climbed the most, up 18.29 percent, while stocks of casting producer Cemas Dokum did the worst, falling 20.00 percent.

The BIST 100's most-traded listed companies were national flag carrier Turkish Airlines, private lender Garanti, state lender Halkbank, defense company Aselsan and iron/steel producer Kardemir.

The USD/TRY exchange rate dropped to 5.4610 as of 5 p.m. local time (1400GMT) Wednesday, compared with 5.5000 at Tuesday's close. 

The euro/lira exchange rate also decreased to 6.1680 by market close, versus 6.2020 at the previous close, while the British pound/lira exchange rate reached 7.0820 Turkish liras, compared with 7.1330 at Tuesday's close. 

In Borsa Istanbul's Precious Metals and Diamond Markets, one ounce of gold traded for $1,201.80 as of 5.30 p.m. local time (1430GMT) Wednesday, up from 1,199.20 at the previous close. 

As of 6 p.m. local time (1500GMT), the price of Brent oil stood at $67.26 per barrel compared with $67.31 at the end of Tuesday.

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