Turkish benchmark stock index closes Friday with losses
Date
11/17/2024 4:24:35 AM
(MENAFN) On Friday, Türkiye's benchmark stock index, Borsa Istanbul's BIST 100, closed at 9,389.62 points, reflecting a modest decline of 0.33 percent from the previous day's close. The index lost 30.80 points, and the total trading volume reached 85.4 billion liras (approximately USD2.48 billion), indicating a solid level of market activity despite the daily dip. However, on a weekly basis, the index performed positively, gaining 2.23 percent by the end of the trading week, demonstrating a recovery after earlier fluctuations and reflecting investor optimism.
In terms of commodities, the price of gold remained stable at USD2,578.75 per ounce, while Brent crude oil was trading at around USD72.15 per barrel as of 6:15 p.m. local time (15:15 GMT). Oil prices showed resilience, maintaining relatively steady levels despite various global economic pressures. These commodity prices continue to play a crucial role in shaping market sentiment, both domestically and internationally, influencing investor behavior and economic forecasts.
As for the Turkish lira, the exchange rates against major currencies showed slight movements. The US dollar/Turkish lira rate was at 34.4244, while the euro was valued at 36.3051 liras, and the British pound stood at 43.4744 liras. This marked a small weakening of the Turkish lira relative to these currencies, continuing the trend of fluctuations in exchange rates that are heavily influenced by global economic conditions, inflationary pressures, and monetary policy shifts.
Overall, the day’s trading session reflected mixed signals in Türkiye’s financial markets, with stock prices experiencing a small drop, while commodities like gold and oil remained relatively stable. The foreign exchange market also showed a slight depreciation of the lira, contributing to the broader economic landscape that investors are closely monitoring. The resilience in weekly gains and commodity prices, however, suggests a cautious optimism as Türkiye navigates through its ongoing economic challenges.
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