(MENAFN) Türkiye's stock market experienced a decline as the BIST 100 index closed at 5,092.88 points, down 0.83 percent from the previous close. The index started the day at 5,143.38 points and lost 42.67 points compared to the previous close of 5,124.25. The market's total value was approximately 4.2 trillion Turkish liras (USD218.29 billion) at market close, with a daily trading volume of 48.7 billion Turkish liras (USD2.5 billion). During the day, 23 stocks on the index rose while 71 stocks fell compared to the previous close.

The lowest value of the BIST 100 index during the last transaction day was 5,092.88, while its daily high was 5,176.58. This indicates a volatile day of trading for the Turkish stock market. The decline in the stock market can be attributed to various economic factors such as global economic trends, political instability, and inflation.

The price of an ounce of gold was USD2,012.05, while Brent crude oil sold for around USD86.52 per barrel as of 6.30 p.m. local time (1530GMT). The US dollar/Turkish lira exchange rate was 19.3636, the euro/lira exchange rate was 21.3090, while the British pound traded at 24.1020 Turkish liras. These figures indicate the strength of the Turkish lira against other major currencies.

Overall, the decline in the BIST 100 index reflects the challenges facing the Turkish economy. The country continues to grapple with high inflation, political instability, and the ongoing impact of the COVID-19 pandemic. Policymakers will need to take appropriate measures to support the economy and ensure that it remains resilient in the face of these challenges.

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