Turkish stocks end week with losses

BIST 100 index goes down some 667 points from previous close, USD/TRY exchange rate stands below 5.50

Muhammed Ali Gürtaş   | 09.11.2018
Turkish stocks end week with losses


By Muhammed Ali Gurtas


Turkey's benchmark stock index went down 0.71 percent to close the week at 92,839.21 points on Friday. 

Starting the day at 93,297.72 points, Borsa Istanbul's BIST 100 index ended the day with 667.01 point fall from Thursday's close. 

On a weekly basis, the index dropped 1.36 percent, compared with last Friday's close of 94,123.02 points.

On Friday, the BIST 100's daily low was 92,127.06 and it peaked at 93,697.88 points. Compared to the previous close, 26 stocks on the index rose, 66 fell, and eight were flat. 

By market capitalization, the top shares were Turkish conglomerate Koc Holding ($7.21 billion), private lender Garanti Bankasi ($6.07 billion), and iron and steel producer Eregli Demir Celik ($5.89 billion). The total market value of the benchmark index was around 605.6 billion liras ($112 billion). 

The total trading volume of the benchmark index was 6.5 billion liras ($1.18 billion), with the highest trade volumes recorded by national flag carrier Turkish Airlines, Garanti Bankasi, defense company Aselsan, iron and steel producer Kardemir, and state-run lender Halkbank. 

Stocks of Turkish conglomerate Ittifak Holding (ITTFH) showed the best performance for the second day in a row -- up 9.29 percent -- while shares of Aksa Enerji (AKSA), heavily involved in the energy sector, did the worst, falling 19.80 percent.

Among all sectors, the BIST transportation index surged the most with a 3.14-percent hike, while the BIST electricity index fell 4.44 percent -- worst of the day.

By market close, the U.S. dollar/Turkish lira exchange rate rose to 5.4800, up from 5.4160 at the previous close.  

The euro/Turkish lira rate was 6.2190, versus 6.2060 at Thursday's close. 

The GBP/TRY exchange rate was 7.1380 at close, as one British pound traded for 7.1130 Turkish liras at the previous close.  

In Borsa Istanbul's Precious Metals and Diamond Markets, one ounce of gold was sold for $1,220 at weekly close, down from $1,224 at Thursday's close. 

Hovering between $69.15 and $70.99 during the day, the price of Brent oil was around $69.45 per barrel as of 6 p.m. local time (1500GMT) Friday. 

At the beginning of this year, one barrel of Brent oil was sold for $66.

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