Turkey’s shares hike 0.3 percent on Thursday’s open
Date
5/16/2024 3:59:27 AM
(MENAFN) On Thursday, the Turkish benchmark stock index embarked on its trading journey at 10,189.06 points, indicating a modest uptick of 0.3 percent or 30.43 points in comparison to the preceding day's closing figure. This rise in the index value came against the backdrop of a mixed performance earlier in the week, where the BIST 100 index experienced a slight decline of 0.15 percent, ultimately settling at 10,158.63 points. Despite the dip in index value, market activity remained robust, with a noteworthy daily transaction volume of 91 billion Turkish liras, translating to approximately USD2.82 billion in terms of US currency.
In the realm of foreign exchange markets, the morning hours of Thursday witnessed various exchange rates against the Turkish lira. Notably, the US dollar/Turkish lira (USD/TRY) exchange rate stood at 32.2170, offering insights into the dynamics of currency trading. Meanwhile, the Euro/Turkish lira (EUR/TRY) rate was observed at 35.1340, with the British pound sterling/Turkish lira (GBP/TRY) rate holding steady at 40.9660.
Furthermore, as investors and analysts monitor broader market trends, commodities such as gold and oil continue to command attention. The price of one ounce of gold was reported at USD2,386.90, reflecting its status as a traditional safe-haven asset amid economic uncertainties. Meanwhile, the barrel price of Brent crude oil hovered around USD82.90, indicative of ongoing dynamics in the energy sector and global supply chains. These commodities, with their intrinsic value and significance in various industries, contribute to the intricate tapestry of financial markets, shaping investment strategies and market sentiment alike.
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