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Turkish main stock declines 0.80 percent on Monday’s end
(MENAFN) Türkiye's benchmark stock index closed Monday at 9,828.56 points, registering a decline of 0.80 percent from last week’s close. This dip underscores the ongoing volatility in the Turkish market as investors reacted to both domestic and global economic factors. The drop in the BIST 100 index indicates a cautious approach among market participants as they assess potential risks and opportunities.
The trading session began with Borsa Istanbul's BIST 100 index opening at 9,980.15 points. However, the index lost momentum throughout the day, shedding 78.82 points to end the session lower. Despite the decline, the daily transaction volume was robust, reaching 93.8 billion liras, which is equivalent to approximately USD2.87 billion. This substantial trading volume reflects active investor engagement, even amid market uncertainties.
In the commodities market, gold continued to attract investors, with the price of an ounce standing at USD2,493.35. This reflects the metal's ongoing appeal as a safe-haven asset, particularly during periods of financial uncertainty. Additionally, Brent crude oil was trading at around USD80.86 per barrel as of 6.04 p.m. local time (1504GMT), highlighting the fluctuations in the global energy markets, which remain sensitive to changes in supply and demand dynamics.
On the currency front, the Turkish lira's performance against major currencies demonstrated ongoing challenges for the country's economy. The US dollar was exchanged at 33.5334 liras, while the euro was trading at 36.6595 liras. The British pound was even stronger, with an exchange rate of 42.8802 liras. These exchange rates highlight the lira's depreciation and the broader economic pressures faced by Türkiye, as the local currency continues to weaken against its international counterparts.
The trading session began with Borsa Istanbul's BIST 100 index opening at 9,980.15 points. However, the index lost momentum throughout the day, shedding 78.82 points to end the session lower. Despite the decline, the daily transaction volume was robust, reaching 93.8 billion liras, which is equivalent to approximately USD2.87 billion. This substantial trading volume reflects active investor engagement, even amid market uncertainties.
In the commodities market, gold continued to attract investors, with the price of an ounce standing at USD2,493.35. This reflects the metal's ongoing appeal as a safe-haven asset, particularly during periods of financial uncertainty. Additionally, Brent crude oil was trading at around USD80.86 per barrel as of 6.04 p.m. local time (1504GMT), highlighting the fluctuations in the global energy markets, which remain sensitive to changes in supply and demand dynamics.
On the currency front, the Turkish lira's performance against major currencies demonstrated ongoing challenges for the country's economy. The US dollar was exchanged at 33.5334 liras, while the euro was trading at 36.6595 liras. The British pound was even stronger, with an exchange rate of 42.8802 liras. These exchange rates highlight the lira's depreciation and the broader economic pressures faced by Türkiye, as the local currency continues to weaken against its international counterparts.
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