BIST 100 closes Wednesday’s session with losses
Date
10/24/2024 5:43:39 AM
(MENAFN) On Wednesday, the Turkish benchmark stock index, known as the BIST 100, closed at 8,714.69 points, marking a decline of 1.4 percent compared to the previous day's closing figures. The trading session started on a more positive note, with the index opening at 8,853.83 points. However, it experienced a downward trend throughout the day, ultimately losing 123.91 points by the end of trading. The volatility of the market was evident as the index fluctuated within a range, hitting a low of 8,664.02 points and reaching a high of 8,867.10 points during the session.
By the conclusion of trading, the market reflected a mix of performance among the stocks, with only 14 out of the total stocks rising in value, while a significant majority of 85 stocks saw a decline. This overall bearish trend highlights the challenges facing investors and the broader economic environment impacting stock performance. Such shifts in stock values indicate the complexities of the current market dynamics and investor sentiment.
The total transaction volume for the day was substantial, reaching 84 billion Turkish liras, equivalent to approximately USD2.44 billion. This figure underscores the level of trading activity and interest within the market despite the day's losses. The overall market capitalization of the BIST 100 index stood at 7.6 trillion liras, or about USD223.2 billion, illustrating the scale of the Turkish stock market and its importance to the national economy.
In addition to the stock market developments, the foreign exchange rates were noteworthy as of 6:40 PM local time (1540 GMT). The USD/TRY exchange rate was reported at 34.2990, while the EUR/TRY rate was at 37.0160, and the GBP/TRY rate stood at 44.3870. Meanwhile, commodity prices also influenced economic sentiment, with the price of one ounce of gold reaching USD2,717.80 and Brent crude oil priced around USD74.80 per barrel, further reflecting the interconnected nature of global markets.
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