Nov 20, 2024 (MENAFN via COMTEX) --
(MENAFN) Turkiye's benchmark stock index started Monday's trading session at 9,419.42 points, reflecting a modest gain of 0.32 percent, or an increase of 29.80 points from the previous day's closing figure. This early uptick shows a positive market sentiment as investors begin the week.
In contrast, on the previous Friday, the Borsa Istanbul's BIST 100 index experienced a slight decline of 0.33 percent, closing at 9,389.62 points. Despite this drop, the index saw a notable daily transaction volume, reaching 85.4 billion liras, which is equivalent to approximately USD2.48 billion. This high trading volume suggests active participation in the market, though the overall sentiment leaned toward caution.
As of 09:54 a.m. local time (0654 GMT), the exchange rates for foreign currencies against the Turkish lira were recorded at 34.4687 for the US dollar (USD/TRY), 36.3416 for the euro (EUR/TRY), and 43.5622 for the British pound (GBP/TRY). These rates reflect a continued trend of lira depreciation against major global currencies, which is a crucial factor for both investors and the general economy in Turkiye.
Commodity prices also played a role in shaping the economic landscape. The price of gold stood at USD2,591.05 per ounce, indicating its strong value as a safe-haven asset amidst global economic uncertainties. Meanwhile, the price of Brent crude oil was approximately USD71.34 per barrel, reflecting ongoing stability in global oil markets, though still susceptible to fluctuations depending on geopolitical developments and market dynamics.
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