Economy

Turkey's Borsa Istanbul down nearly 2 percent at close

BIST 100 index drops around 1,750 points, while Turkish lira gains in value against foreign currencies

Gökhan Ergöçün   | 12.12.2018
Turkey's Borsa Istanbul down nearly 2 percent at close

Istanbul

By Gokhan Ergocun

ISTANBUL

Turkey's benchmark stock index decreased by 1.91 percent to close at 90,051.10 points on Wednesday. 

Borsa Istanbul's BIST 100 index fell 1,749.75 points from Tuesday's close of 91,800.86 points while it started Wednesday at 92,136.13 points.

During the third transaction day of the week, the BIST 100 peaked at 92,326.51 points, while its daily low was 89,956.78 points. 

With a trade volume of 6.1 billion Turkish liras ($1.1 billion), the BIST 100's total market value was around 586.4 billion liras ($109.6 billion) as of daily close.

Private lender Garanti, national flag carrier Turkish Airlines, and state lender Halkbank posted the highest trade volumes on Wednesday.

Compared to Tuesday's close, 13 stocks on the BIST 100 rose, 85 declined, and two were flat. 

The shares of furniture manufacturer Dogtas Kelebek Mobilya showed the best performance on Wednesday -- up 5.56 percent -- while stocks of chemical and paint producer Polisan Holding suffered the most, dropping 12 percent.

The U.S. dollar/Turkish lira exchange rate reached 5.3520 at close, down from Tuesday's close of 5.3720. 

The euro/lira rate also decreased at close; 6.0810 versus 6.1110 at the previous close. 

One British pound traded for 6.7690 Turkish liras, while the GBP/TRY rate was 6.7770 at close on Tuesday. 

In Borsa Istanbul's Precious Metals and Diamond Markets, the price of one ounce of gold was around $1,244.65 by market close, down from $1,249.20 a day ago.

The price of Brent crude oil stood at $60.84 per barrel as of 6 p.m. (1500GMT) Wednesday, versus $60.86 at previous close.


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