Turkey, Economy

Turkey's Borsa Istanbul ends week with gains

BIST 100 index goes up 0.36 pct, rising some 340 points from previous close

Turkey's Borsa Istanbul ends week with gains

By Muhammed Ali Gurtas


Turkey's benchmark stock index closed Friday up 0.36 percent at 94,759.64 points.

Borsa Istanbul's BIST 100 index climbed 340.49 points from Thursday's close of 94,419.15 points, while it recorded a 1.6 percent hike on a weekly basis.

The total market value of listed shares on the BIST 100 was some 622 billion Turkish liras ($98 billion) at the close, while the total trade volume of the benchmark index was around 9.15 billion Turkish liras ($1.5 billion).

The benchmark index hovered between 94,377.04 points and 96,298.90 points during trading hours, while 52 stocks on the BIST 100 rose, 42 fell, and six were flat compared to the previous close. 

Among all sectors, the BIST banking index was the top gainer, up 2.53 percent, while the BIST transportation index fell the most with a 2.23 percent decline.

Shares of casting producer Cemas Dokum (CEMAS) recorded the best performance of the day -- up 10.28 percent -- and stocks of real estate investment trust Ozderici showed the biggest drop with a 10.88 percent decline.

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

The U.S. dollar/Turkish lira exchange rate fell to 6.1350 as of 5 p.m. local time (1400GMT) Friday, compared with 6.1590 at the previous close. The USD/TRY rate saw a weekly fell of nearly 5 percent.

One euro traded for 7.1620 Turkish liras by market close, while the EUR/TRY exchange rate was 7.2180 at Thursday's close. The GBP/TRY exchange rate was 8.0540 at Friday's close, while one British pound traded for 8.1190 Turkish liras at the previous close.

In Borsa Istanbul's Precious Metals and Diamond Markets, one ounce of gold traded for $1,205 by market close on Friday, while it was $1,206 at the previous close.

As of 6 p.m. local time (1500GMT), the price of Brent oil stood at $77.67 per barrel -- hovering between $77.41 and $78.63 during Friday -- climbing from around $66 at the beginning of 2018.

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