Turkish stock exchange demonstrates robust performance
Date
10/7/2024 7:38:04 AM
(MENAFN) The Turkish stock exchange demonstrated robust performance last week, with the benchmark BIST 100 index closing at 9,109.34 points on Friday. This marks an impressive increase of 2.37 percent from the previous week's close, reflecting strong market sentiment.
The BIST 100 index commenced trading on Friday at 8,953.20 points and steadily climbed throughout the day, ultimately gaining 211.11 points from Thursday’s closing figures. During the trading session, the index recorded a daily low of 8,850.42 points, while reaching a peak of 9,109.34 points.
Out of the 96 indices monitored, 85 experienced upward movements, indicating a predominantly positive trading atmosphere, while only 11 indices faced declines. The total transaction volume for the day reached 78 billion Turkish liras (approximately USD2.29 billion), contributing to an overall index value of 7.9 trillion liras (around USD232.06 billion).
In currency markets, the exchange rates showed some fluctuations. As of 6:20 p.m. local time (15:20 GMT), the USD/TRY rate was recorded at 34.2495, while the EUR/TRY rate stood at 37.5500. The GBP/TRY was trading at 44.8745.
In commodities, the price of an ounce of gold was set at USD2,662.50, while Brent crude oil traded around USD78.30 per barrel.
Overall, the upward trend in the Turkish stock market underscores a period of growth and investor confidence, paving the way for potential continued momentum in the coming weeks. This positive outlook may encourage further investment and economic activity within Turkey, benefiting various sectors and contributing to a more vibrant financial landscape.
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