Turkish main stock index declines at Wednesday’s session end
Date
10/3/2024 8:37:51 AM
(MENAFN) On Wednesday, the Turkish benchmark stock index, known as the BIST 100, closed at 9,012.87 points, marking a notable decline of 3.62 percent from the previous day's closing figure. The index commenced the trading day at 9,320.46 points, but it faced considerable downward pressure throughout the session, ultimately losing 338.35 points. During the trading hours, the index exhibited volatility, registering a low of 9,012.87 points and a high of 9,339.22 points.
In terms of market performance, the trading session saw a mixed outcome, with six indices recording increases in value while a significant majority, totaling 93 indices, experienced declines by the conclusion of the trading day. This widespread downturn highlights the challenges faced by investors amid shifting market conditions. The total transaction volume for the day reached approximately 83 billion Turkish liras (around USD2.44 billion), reflecting active trading despite the overall negative sentiment.
The overall market capitalization of the BIST 100 index stood at 7.8 trillion liras (about USD229 billion), underscoring the substantial scale of the Turkish stock market. Investors were likely cautious given the fluctuating economic environment, which can impact investment strategies and market confidence. As the index adjusts to these market pressures, stakeholders remain attentive to trends and developments that may influence future trading sessions.
As of 6:40 p.m. local time (1640 GMT), the foreign exchange landscape showed the USD/TRY exchange rate at 34.2150, the EUR/TRY rate at 37.7895, and the GBP/TRY trading at 45.3895. In the commodities market, the price of gold was reported at USD2,647.27 per ounce, while Brent crude oil was priced around USD74.05 per barrel. These figures indicate the broader economic context in which the Turkish stock market operates, influenced by global commodity prices and currency fluctuations.
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