Economy

Turkish stocks end week with loss

BIST 100 index goes down some 330 points from previous close, USD/TRY exchange rate stands around 5.25

Muhammed Ali Gürtaş  | 08.02.2019 - Update : 09.02.2019
Turkish stocks end week with loss

Ankara

By Muhammed Ali Gurtas

ANKARA

Turkey's benchmark stock index ended Friday down 0.32 percent to close the week at 102,451.74 points.

Opening the day at 102,494.86 points, Borsa Istanbul's BIST 100 index went down 332.29 points from the previous close.

On a weekly basis, the benchmark index fell slightly -- down 0.47 percent -- as it has climbed over 12 percent since the beginning of this year.

The BIST 100's daily low was 102,119.23 points while it peaked at 102,742.42 points during Friday's trading -- 41 stocks on the index rose, 47 fell, and 12 were flat compared with the previous close.

The benchmark index posted a daily trade volume of 5.37 billion Turkish liras ($1.02 billion) and closed the week with a market value of around 667 billion Turkish liras ($127 billion).

The top companies of the BIST 100 were Turkish conglomerate Koc Holding, private lender Garanti Bankasi, and energy giant Tupras by market capitalization.

On Friday, highest trade volumes of the day were recorded by Garanti Bankasi, Turkey's national flag carrier Turkish Airlines, iron and steel producer Eregli Demir Celik.

Stocks of sports club Besiktas (BJKAS) climbed the most -- up 12.35 percent -- as shares of energy company Odas Elektrik (ODAS) saw the biggest drop of the day, falling 4.98 percent.

By market close, the U.S. dollar/Turkish lira exchange rate stood at 5.2460, versus 5.2530 at Thursday's close. During the week, the USD/TRY rate was stable, rising only 0.63 percent compared to 5.2130 at close on Feb. 1.

One euro traded for 5.9550 liras, as the EUR/TRY rate was 5.9640 at the previous close. The British pound/Turkish lira rate was 6.8070, compared to 6.8220 a day ago.

One ounce of gold was sold for $1,313.10 at the daily close in Borsa Istanbul's Precious Metals and Diamond Markets, up from $1,307.00 at the previous close.

With a day range of $61.06 to $62.37, one barrel of Brent oil traded for $61.80 as of 6.15 p.m. local time (1515GMT) on Friday.

At the beginning of 2019, the price of Brent oil was around $53 per barrel.

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