Turkish stocks end week down 1.66%

ANKARA

Turkey's benchmark stock index closed the week at 1,473.45 points on Friday, dropping 1.66% from the previous close.

Starting the day at 1,477.42 points, Borsa Istanbul's BIST 100 index fell 24.87 points from 1,498.32 points at Thursday's close.

On a weekly basis, the benchmark index posted a 4.47% drop this week. At the beginning of this year, the BIST 100 stood at around 1,490 points.

During Friday's trading, the BIST 100 hovered between 1,469.55 points and 1,495.54 points, with 25 stocks on the index rising, 71 down, and four flat compared to the previous close.

Closing the week with a market value of around 1.1 trillion Turkish liras ($150 billion), the benchmark index posted a daily trading volume of 30.2 billion liras ($4.1 billion).

Shares of chemical fertilizer producer Gubre Fabrikalari, private lender Garanti BBVA, and real estate investment trust Emlak Konut recorded the highest trading volumes -- accounting for 20% of the benchmark index's total trade volume.

Stocks of Gubre Fabrikaları (GUBRF) climbed the most with a 4.92% hike, while shares of automotive manufacturer Ford Otosan (FROTO) dropped the most, falling 7.46%.

One ounce of gold sold for $1,865.20 by market close, up from $1,838.22 at the previous close, according to data from Borsa Istanbul's Precious Metals and Diamond Markets.

The price of Brent crude oil was around $55.70 per barrel as of 6 p.m. local time (1500GMT) on Friday, with a daily range of $54.91 to $56.02.