Türkiye’s BIST 100 opens Friday’s session higher, exceeding 100K

(MENAFN) The Turkish benchmark stock index opened on Friday at 10,063.70 points, marking an increase of 1.29 percent or 127.75 points from the previous day’s close. This positive movement follows a moderate gain the previous day, with Borsa Istanbul’s BIST 100 index closing 0.5 percent higher at 9,935.96 points. The total transaction volume on Thursday reached 83.5 billion Turkish liras (approximately USD2.4 billion), reflecting active market participation.

As of 10:07 a.m. (0707 GMT) on Friday, the exchange rate for the US dollar to Turkish lira (USD/TRY) was 34.8000. The euro to Turkish lira (EUR/TRY) exchange rate stood at 36.8151, while the British pound to Turkish lira (GBP/TRY) rate was 44.3447. These rates reflect the ongoing fluctuations in the Turkish lira's value against major currencies.

In the commodities market, one ounce of gold was priced at USD2,659.94, showing a steady value. Gold remains an important asset for investors, particularly in uncertain economic climates. Meanwhile, Brent crude oil prices were hovering around USD71.97 per barrel, maintaining a relatively stable price despite fluctuations in global energy markets.

This combination of rising stock market indices, fluctuating exchange rates, and stable commodity prices paints a picture of a Turkish economy experiencing moderate growth amid global uncertainties. Investors and businesses are keeping a close watch on these developments, which may influence future market trends and investment decisions in Turkey.

MENAFN08122024000045015839ID1108968098