Economy

Turkey's Borsa Istanbul up over 1.5 pct at close

BIST 100 index gains over 1,600 points, while Turkish lira gains in value against foreign currencies

18.01.2019
Turkey's Borsa Istanbul up over 1.5 pct at close

By Gokhan Ergocun

ISTANBUL

Turkey's benchmark stock index climbed 1.69 percent to close at 98,454.88 points on Friday.

Borsa Istanbul's BIST 100 index started the day at 97,192.90 points, gaining 1,637.52 points from Thursday's close of 96,817.36 points.

The BIST 100 index saw a 4-month high with 98,454.88 points. It has been on the rise in the last 11 transaction days since Jan. 4.

The benchmark index hovered between 97,046.00 and 98,662.21 points, during Friday's trading.

The total market value of the BIST 100 was around 637.7 billion Turkish liras ($119 billion) by market close and the daily trade volume was 7.7 billion Turkish liras ($1.44 billion).

On Friday, 72 stocks on the index were on the rise, while 22 were on the decline, and six were flat compared to the previous close.

The top listed companies were Turkish conglomerate Koc Holding ($7.7 billion), and private lenders Garanti ($7.2 billion) and Akbank ($6.4 billion) by market value.

The highest trading volumes were posted by national flag carrier Turkish Airlines, Garanti, and iron/steel producer Kardemir.

Shares of Kardemir were the top gainers -- up 6.73 percent -- and energy company Odas fell down most by 3.72 percent.

The U.S. dollar/Turkish lira exchange rate was 5.3570 at close, down from Thursday's close of 5.3750.

The euro/lira rate increased to 6.1060 at Friday's close, versus 6.1360 at the previous close.

One British pound traded for 6.9450 Turkish liras, while the GBP/TRY rate was 6.9600 at close on Thursday.

In Borsa Istanbul's Precious Metals and Diamond Markets, the price of one ounce of gold was around $1,286.35 by market close, down from $1,295.25 the previous day.

The price of Brent crude oil stood at around $62.20 per barrel as of 6 p.m. (1500GMT) Friday, versus $60.54 at the previous close.

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