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Turkish stocks rise over 1.6% at close

Monitoring Desk

ANKARA: Turkey’s benchmark stock index closed Monday up 1.64 percent to stand at 90,185.99 points, before going into four-and-a-half-day break for the Islamic holiday of Eid Al-Adha. Borsa Istanbul’s BIST 100 index ended the day with a 1,451.23 point hike from Friday’s close of 87,143.21 points, while it started the day at 88,984.52 points.

The benchmark index hovered between 88,938.61 points and 90,476.48 points, while 72 stocks on the index were on the rise, 18 stocks fell and ten stocks were flat compared to the previous close. The stock exchange market will open next Monday, Aug. 27.

The total market value of listed shares on the BIST 100 was 594.7 billion liras ($99.2 billion) at the close.

During the half-day transactions, the banking and holding sector indices surged 2.21 and 2.33 percent, respectively. Among all sectors, the BIST construction index performed the best — up 9.33 percent — while the leasing, factoring sector index dropped 0.72 percent, the largest decline of Monday.

Stocks of GSD Holding, a group of companies heavily involved in finance and shipping, showed the best performance of the day, gaining 10.16 percent, while shares of furniture manufacturer Dogtas Kelebek Mobilya lost the most, going down 2.68 percent.

The BIST 100’s most-traded stocks were national flag carrier Turkish Airlines, private lender Garanti, another lender Isbank, major defense company Aselsan, and the country’s largest petrochemicals producer Petkim.

Meanwhile, the US dollar/Turkish lira exchange rate rose to 6.1230 by 12 p.m. local time (0900GMT) Monday, compared with 6.0880 at Friday’s close.

The euro/lira exchange rate was 7,0000, versus 6.9460 at the previous close, and one British pound traded for 7.7240 Turkish liras, versus 7.7680 at Friday’s close. AA

 

 

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