Turkey’s main share starts trading with modest increase on Tuesday
Date
5/21/2024 5:18:30 AM
(MENAFN) On Tuesday, the Turkish benchmark stock index commenced trading at 10,767.34 points, reflecting a modest increase of 0.26 percent or 27.76 points compared to its previous close. The positive momentum follows Monday's notable performance, where the BIST 100 index surged by 0.9 percent to reach a historic high closing figure of 10,643.58 points. This achievement was coupled with a robust daily transaction volume amounting to 122.7 billion Turkish liras (USD3.8 billion), underscoring heightened investor activity within the Turkish stock market.
In terms of currency exchange rates, the US dollar to Turkish lira (USD/TRY) exchange rate stood at 32.2165 as of 10:05 AM (0705 GMT), while the EUR/TRY rate was recorded at 35.0250, and the GBP/TRY rate stood at 40.9570. These currency fluctuations play a crucial role in shaping market dynamics, influencing investor sentiment and trade flows within the Turkish economy.
Meanwhile, the price of gold continued its upward trajectory, with one ounce fetching USD2,411.40, indicating ongoing investor interest in safe-haven assets amidst prevailing economic uncertainties. Additionally, the barrel price of Brent crude oil hovered around USD82.95, reflecting stability in global oil markets amid geopolitical tensions and supply-demand dynamics.
Overall, the financial markets in Turkey demonstrate a mix of positive sentiment and stability, with the stock market reaching historic highs and currency exchange rates holding relatively steady. These indicators provide valuable insights into the economic landscape of Turkey and the sentiments driving investor behavior in the region.
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