Türkiye’s BIST 100 opens Thursday with gains
Date
1/12/2025 2:25:41 AM
(MENAFN) Türkiye’s benchmark stock index, Borsa Istanbul's BIST 100, opened on Thursday at 9,932.63 points, marking a slight recovery with a 0.42 percent increase, or 41.87 points, from the previous day's close. The positive start reflected some optimism in the market after a downturn the day before. Despite this opening gain, market sentiment remains mixed as investors closely monitor domestic and international economic indicators that may influence the direction of the market in the short term.
On Wednesday, the BIST 100 index experienced a decline, falling by 0.81 percent to close at 9,890.76 points. The drop came alongside a relatively high trading volume of 98.4 billion Turkish liras (around USD2.78 billion), signaling strong market participation despite the negative performance. Investors seemed to react to a combination of factors, including uncertainty in global markets and concerns over the local economic environment, which contributed to the market’s downward movement.
In the foreign exchange markets, the Turkish lira continued to face pressure, with the USD/TRY exchange rate reaching 35.3566 as of 10:10 a.m. local time (0710GMT). Similarly, the EUR/TRY rate stood at 36.4267, while the GBP/TRY was trading at 43.4890. These exchange rate movements reflect ongoing volatility in the Turkish lira, which has been influenced by both domestic policies and external factors, such as global inflationary pressures and geopolitical developments.
Meanwhile, in the commodities markets, gold prices remained elevated, with one ounce of gold priced at USD2,681.90. This high value reflects continued demand for gold as a safe-haven asset amidst global economic uncertainty. Additionally, Brent crude oil was trading at around USD76.31 per barrel, maintaining a stable position in the market despite fluctuating global energy prices. The stability in oil prices, combined with gold’s strength, signals investor caution and a continued focus on hedging against economic risks.
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