Oct 08, 2024 (MENAFN via COMTEX) --
(MENAFN) Turkiye's benchmark stock index, the BIST 100, opened Tuesday at 9,040.75 points, marking a modest increase of 0.1 percent, or 9.11 points, from the previous close. This uptick follows a decline on Monday, where the index ended down by 0.85 percent, closing at 9,031.64 points. The trading session on Monday recorded a substantial transaction volume of 52.2 billion Turkish liras (approximately USD2.02 billion), indicating active market participation despite the downturn.
As of 11:25 AM (0825 GMT) on Tuesday, the exchange rates were recorded at 34.2425 Turkish lira per US dollar, 37.6330 per euro, and 44.8100 per British pound. These figures reflect the ongoing fluctuations in the currency markets, which are influenced by various domestic and international economic factors. Investors are closely monitoring these rates as they impact purchasing power and inflation expectations in Turkiye.
In the commodities market, the price of an ounce of gold was noted at USD2,635.11, while Brent crude oil was trading at USD79.30 per barrel. The movement in commodity prices is significant, especially given the recent geopolitical tensions and economic policies affecting supply and demand dynamics. Investors often look to gold as a safe-haven asset during times of uncertainty, while oil prices are closely tied to global economic activity.
Overall, the slight rise in the BIST 100 index on Tuesday suggests a stabilizing trend as traders assess the market's health amidst fluctuating currency values and commodity prices. With significant transaction volumes and active trading, the Turkish market remains a focal point for both local and international investors seeking opportunities in an evolving economic landscape.
MENAFN08102024000045015839ID1108756761
COMTEX_458612104/2604/2024-10-08T19:48:02
