Nov 21, 2024 (MENAFN via COMTEX) --
(MENAFN) Turkiye's benchmark stock index, Borsa Istanbul's BIST 100, ended Wednesday's trading session at 9,031.82 points, reflecting a decline of 2.18 percent compared to the previous day's close. The market opened the day at a higher level of 9,272.75 points, but it experienced a downward trajectory throughout the session, ultimately losing 201.08 points by the end of the day. This drop in the index was accompanied by a substantial daily transaction volume, amounting to 84 billion Turkish liras, which is approximately USD2.43 billion.
The fluctuations in the stock market came amid global economic uncertainties and domestic market conditions. As the trading session concluded, the price of gold had reached USD2,651.15 per ounce, reflecting its steady appeal as a safe-haven asset in times of market volatility. Meanwhile, the price of Brent crude oil stood at about USD73.28 per barrel, indicating a slight decrease after recent increases in energy prices.
Currency markets also showed notable shifts. The US dollar exchanged for 34.4812 Turkish liras, marking a slight change in the value of the Turkish currency against the dollar. The euro, on the other hand, traded at 36.3265 liras, while the British pound stood at 43.6380 liras, reflecting ongoing pressures on the Turkish lira and potential inflation concerns within the domestic economy.
These figures underscore the challenges facing Turkiye's financial markets, which are influenced by a variety of global and domestic factors, including fluctuations in commodity prices, exchange rates, and broader economic conditions. The government's ongoing efforts to stabilize the currency and address inflationary pressures are likely to continue to shape the financial landscape in the coming months, with investors closely monitoring these developments.
MENAFN21112024000045015839ID1108910404
COMTEX_460051154/2604/2024-11-21T15:48:02
