Economy

Turkey's Borsa Istanbul up 1.86% at close

BIST 100 gains over 1,800 points from previous close

Gokhan Ergocun   | 12.05.2020
Turkey's Borsa Istanbul up 1.86% at close

ISTANBUL

Turkey's benchmark stock index closed the day at 99,615.88 points on Tuesday, up 1.86% from the previous close.

Borsa Istanbul's BIST 100 index started the day at 97,951.42 points. As of the daily close, it had earned 1,823.65 points from Monday's close of 97,792.23 points.

During the day, the index's lowest level was 97,740.33 points, while the highest level was 99,708.31 points.

The total market value of the BIST 100 was around 704.8 billion Turkish liras ($99.7 billion) by market close, with a daily trading volume of 12.8 billion Turkish liras ($1.8 billion).

On the first transaction day of the week, 89 stocks on the index rose, 10 were down, and one was flat compared to Monday.

The highest trading volumes were posted by private lender Garanti, defense giant Aselsan, and supermarket chain Migros.

Carton producer Kartonsan was the best performer, with its shares up 9.99%, while leasing-factoring firm Is Finansal Kiralama dropped the most, losing 4.36%.

The price of one ounce of gold was $1,706.50 by market close, down from $1,701 at the previous close, according to data from Borsa Istanbul's Precious Metals and Diamond Markets.

The price of Brent crude oil was around $30 per barrel as of 6 p.m. (1500GMT) on Tuesday.

The Turkish lira also gained value against foreign currencies at the close.

Last week the US dollar/Turkish lira rate rose about 7.20, when three foreign banks – BNP Paribas, Citibank, and UBS – made “manipulative attacks” aimed at depreciating the lira by buying large amounts of foreign currency with liras they did not have, according to Turkish banking officials.

The country's banking watchdog initially blocked these banks from doing foreign exchange transactions with the Turkish lira, and later lifted the ban after they fulfilled their lira commitments.


Exchange RatesMondayTuesday
USD/TRY7.0720 6.9940
EUR/TRY7.6630 7.6070
GBP/TRY8.7570 8.6580

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