Turkey, Economy

Turkey's Borsa Istanbul down at closing session

BIST 100 index drops over 1,750 points from previous close

Turkey's Borsa Istanbul down at closing session

By Gokhan Ergocun


Turkey's benchmark stock index closed Monday at 94,681.70 points, down 1.84 percent.

Borsa Istanbul's BIST 100 index dropped 1,772.86 points from last week's close of 96,454.57 points, while it started the day at 97,215.75 points.

The benchmark index hovered between 94,681.70 points and 97,406.25 points, while 17 stocks on the index were on the rise, 80 on the decline, and three flat compared to the previous close.

The total market value of listed shares on the BIST 100 was around 619.9 billion Turkish liras ($110.4 billion) at the close, while the banking and holding sector indices lost 1.92 percent and 1.17 percent, respectively.

Among all sectors, the leasing factoring sector index was the best performer, rising 1.14 percent, and the sports sector index saw the biggest drop, declining 3.73 percent. 

Shares of Turkish conglomerate Ittifak Holding climbed the most, up 20 percent, while stocks of one of the world's major glass manufacturers Sisecam did the worst, falling 6.57 percent. 

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

The U.S. dollar/Turkish lira exchange rate rose slightly to 5.6790 as of 5 p.m. local time (1400GMT) Monday, up from 5.6450 at the close on Friday. 

One euro traded for 6.5210 Turkish liras at close, up from 6.4890 at Friday's close.

By market close, the GBP/TRY exchange rate was 7.3780, versus 7.3670 at the previous close.

In Borsa Istanbul's Precious Metals and Diamond Markets, one ounce of gold traded for $1,224.00, down from Friday's close of $1,230.00.

As of 6 p.m. local time (1500GMT), the price of Brent oil fell to $79.61 per barrel, compared with $80.42 at Friday's close.

The Turkish government’s gross debt stock rose 33 percent to reach over 1.1 trillion Turkish liras (nearly $184 billion) at the end of September, the Treasury and Finance Ministry announced on Monday.

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