Türkiye's benchmark stock index closes Friday higher
Date
11/24/2024 4:25:28 AM
(MENAFN) On Friday, Türkiye's benchmark stock index, the BIST 100, closed at 9,549.89 points, marking a significant surge of 1.94 percent compared to the previous day. The index gained 182.12 points, reflecting strong investor confidence in the Turkish market. The daily trading volume reached 119.7 billion liras, approximately USD3.47 billion, highlighting robust market activity. This positive movement indicates a strong day for the Istanbul Stock Exchange, with investors responding favorably to market conditions.
In terms of weekly performance, the BIST 100 index showed a notable increase, rising by 1.71 percent by the close on Friday. This weekly gain further underlines the positive momentum the index has been building over the past several days. Such gains reflect an encouraging outlook for investors, despite the ongoing economic challenges in Türkiye and the global markets. The market's resilience appears to be tied to investor sentiment and broader market trends, which have helped support growth throughout the week.
Meanwhile, in commodities, the price of gold saw a significant rise, with an ounce trading at USD2,698.00. This price movement reflects the ongoing demand for safe-haven assets amidst fluctuating market conditions. On the other hand, the price of Brent crude oil stood at approximately USD74.73 per barrel as of 6:15 p.m. local time. This price level remains relatively stable despite the volatility in global oil markets, signaling moderate fluctuations in energy prices at the close of the day.
Regarding the currency exchange rates, the US dollar was trading at 34.5414 Turkish liras, while the euro was valued at 36.0077 liras. Additionally, the British pound was exchanging for 43.2824 liras. These rates indicate the ongoing fluctuations in the foreign exchange market, driven by both domestic economic conditions and international factors. The variations in exchange rates are a crucial aspect of Türkiye's economic environment, affecting trade and investment activities in the country.
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