UPDATE – Turkey's Borsa Istanbul down at close


By Muhammed Ali Gurtas

ANKARA (AA) – Turkey's benchmark stock index fell 1.42 percent to close at 98,537.15 points on Monday.

Borsa Istanbul's BIST 100 index went down 1,419.75 points from last week's close of 99,956.90 points, while it started the week at 100,075.20 points.

The BIST 100 closed at its lowest level seen during Monday's trading hours, while the daily peak hit 100,646.97 points.

Compared with the previous close, 23 stocks on the index rose, 72 fell, and five were flat.

Among all sector indices, the BIST information technology index was the strongest performer with a 3.12-percent daily hike The BIST banking index fell the most, going down 3.56 percent.

Stocks of energy company Ipek Dogal Enerji (IPEKE) were the top gainers — up 7.84 percent — while shares of chemical and paint producer Polisan Holding (POLHO) recorded the biggest drop, declining 6.39 percent.

On a daily basis, the total trade volume of the listed companies on the BIST 100 was 8.94 billion Turkish liras ($1.5 billion), posting a market value of 647 billion liras ($108 billion).

Monday's trade volume leaders were private lender Garanti, telecommunication company Turk Telekom, defense company Aselsan, national flag carrier Turkish Airlines, another private lender Yapi Kredi.

By market capitalization, Turkish conglomerate Koc Holding was the top company with around $7.17 billion, followed by iron and steel producer Eregli Demir Celik ($6.44 billion) and energy giant Tupras ($5.45 billion).

At the daily close, the U.S. dollar/Turkish lira exchange rate fell to 5.9510, compared with Friday's close at 6.0230.

The euro/lira rate was 6.9130, down from 6.9750 at the previous close, and one British pound traded for 7.7850 Turkish liras while the GBP/TRY exchange rate was 7.8150 at Friday's close.

In Borsa Istanbul's Precious Metals and Diamond Markets, one ounce of gold traded for $1,188.30 by market close, versus $1,182.80 at close on Friday.

As of 6:15 p.m. local time (1515GMT), the price of Brent oil stood at around $83.59 per barrel, hovering between $82.56 and $83.69 during the day Monday.

Since the beginning of this year, Brent oil price has risen from $66 a barrel.