Economy

Turkey's Borsa Istanbul up over 1 pct at close

BIST 100 index climbs more than 1,100 points, while Turkish lira gains in value against foreign currencies

18.12.2018
Turkey's Borsa Istanbul up over 1 pct at close

By Gokhan Ergocun

ISTANBUL

Turkey's benchmark stock index rose 1.24 percent to close at 91,074.11 points on Tuesday, gaining 1,112.20 points from the daily opening.

Borsa Istanbul's BIST 100 index started the day at 89,695.14 points, down 266.76 points from Monday's close of 89,961.91 points, but barreled past that initial loss during the day.

On the second transaction day of the week, the BIST 100 peaked at 91,051.36 points, while its daily low was 89,567.01 points.

With a trade volume of 4.5 billion Turkish liras ($840.5 million), the BIST 100's total market value was around 588 billion liras ($109 billion) at close.

Private lender Garanti, national flag carrier Turkish Airlines, and defense company Aselsan posted the highest trade volumes on Tuesday.

Compared to Tuesday's close, 69 stocks on the BIST 100 rose, 28 declined, and three were flat.

The shares of leasing company Is Finansal Kiralama posted the best performance on Tuesday -- up 16.28 percent -- while stocks of private lender ICBC Turkey Bank did the worst, losing 19.94 percent.

The U.S. dollar/Turkish lira exchange rate reached 5.3540 at close, down from Monday's close of 5.3770.

The euro/lira rate also dropped at close to 6.0920 versus 6.1060 at the previous close.

One British pound traded for 6.7940 Turkish liras, while the GBP/TRY rate was 6.8000 at close on Monday.

In Borsa Istanbul's Precious Metals and Diamond Markets, the price of one ounce of gold was around $1,248.00 by market close, down from $1,240.30 a day ago.

The price of Brent crude oil dropped to $58.59 per barrel as of 6 p.m. (1500GMT) Tuesday, versus $60.01 at the previous close.

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