Turkish main stock exchange ends Tuesday’s session lower
Date
11/20/2024 7:05:00 AM
(MENAFN) On Tuesday, Türkiye’s benchmark stock index, Borsa Istanbul's BIST 100, ended the day at 9,232.90 points, marking a decline of 1.73 percent from the previous day’s close. The index started the trading session at 9,430.99 points but quickly experienced a downturn, shedding 162.49 points by the market’s close. The total trading volume for the day reached 92.2 billion liras (approximately USD2.67 billion), reflecting significant market activity despite the drop in the index.
The decline in the BIST 100 index comes as part of a broader trend of fluctuations in Türkiye’s financial markets. Investors saw a shift in sentiment throughout the day as the Turkish stock market faced headwinds. The drop in the index could be attributed to several factors, including global economic conditions and domestic market dynamics. Despite these challenges, the overall trading volume remained robust, indicating a continued level of investor participation in the market.
In the commodities markets, the price of gold saw a significant increase, with an ounce of the precious metal trading at USD2,630.55. This rise in gold prices is reflective of the broader global trends, where investors often turn to gold as a safe-haven asset amid economic uncertainty. On the other hand, Brent crude oil prices remained relatively stable, closing at approximately USD73.77 per barrel. The oil market continues to face volatility due to geopolitical factors and shifts in global demand, impacting oil prices in multiple regions.
Currency markets also showed notable fluctuations. The US dollar to Turkish lira exchange rate was 34.5610, indicating a stronger dollar relative to the Turkish currency. Meanwhile, the euro was traded at 36.5434 liras, and the British pound reached a value of 43.6838 liras. These exchange rates highlight the ongoing challenges in Türkiye’s foreign exchange market, where the lira has experienced continued depreciation against major global currencies. This situation underscores the financial pressures that Türkiye is facing in both the domestic and international economic environments.
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