Türkiye’s main stock index ends Monday’s session with gains

(MENAFN) Türkiye’s main stock index, Borsa Istanbul’s BIST 100, ended Monday’s session at 8,945.80 points, marking a 0.42 percent increase from its previous closing. After opening the day at 8,936.03 points, the index gained 37.32 points in what was a shortened trading day. This modest rise reflects investor sentiment as they awaited upcoming market developments and global economic indicators.

The Istanbul stock exchange operated for only half the day on Monday, in observance of Türkiye’s Republic Day holiday on October 29. The holiday commemorates the founding of the Turkish Republic in 1923, and markets will remain closed on Tuesday as the country continues its celebrations. The shorter trading period resulted in lower activity levels, but the index managed to close positively, driven by demand in various sectors despite the holiday lull.

On the commodities front, gold prices were recorded at USD2,744.10 per ounce by midday, a figure reflecting continued global interest in safe-haven assets amidst economic uncertainties. Brent crude oil, meanwhile, was trading around USD71.32 per barrel at 12:42 p.m. local time (9:42 GMT), as investors tracked fluctuations influenced by geopolitical concerns and changes in global supply and demand dynamics.

In foreign exchange markets, the Turkish lira saw varied performances against major currencies. The U.S. dollar/Turkish lira exchange rate stood at 34.2935, while the euro was valued at 37.0718 liras, and the British pound at 44.4785 liras. These rates indicate a persistent demand for foreign currencies amidst inflationary pressures in Türkiye, as well as investor reactions to both domestic economic conditions and broader international financial trends.

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