UPDATE – Turkey's Borsa Istanbul down at closing session


By Gokhan Ergocun

ISTANBUL (AA) – Turkey's benchmark stock index closed Tuesday at 94,727.67 points, down 1.27 percent.

Borsa Istanbul's BIST 100 index dropped 1,220.06 points from Monday's close of 95,947.73 points, while it started the day at 96,146.78 points.

The benchmark index hovered between 94,163.78 points and 96,282.05 points, while 27 stocks on the index were on the rise, 70 on the decline, and three flat compared to the previous close. The trade volume was 7.4 billion Turkish liras (nearly $1.4 billion).

The total market value of listed shares on the BIST 100 was around 616.1 billion Turkish liras ($113.1 billion) at close, while the banking and holding sector indices lost 1.99 percent and 0.28 percent, respectively.

Among all sectors, the leasing factoring sector index was the best performer, rising 3.08 percent, and the transportation sector index saw the biggest drop, losing 3.39 percent.

Shares of casting producer Cemas Dokum climbed the most, up 6.15 percent, while stocks of iron and steel producer Kardemir did the worst, falling 5.61 percent.

The BIST 100's most-traded listed companies were national private lender Garanti, flag carrier Turkish Airlines, leading defense company Aselsan, state lender Halkbank, and GSM operator Turk Telekom.

The U.S. dollar/Turkish lira exchange rate dropped to 5.3530 as of 5 p.m. local time (1400GMT) Tuesday, down from 5.4050 at the close on Monday.

One euro traded for 6.1170 Turkish liras at close, down from 6.1590 at the previous close.

By market close, the GBP/TRY exchange rate was 7.0060, versus 7.0510 at Monday's close.

In Borsa Istanbul's Precious Metals and Diamond Markets, one ounce of gold traded for $1,236.00, up from the previous close of $1,230.00.

As of 6 p.m. local time (1500GMT), the price of Brent oil fell to $72.81 per barrel, compared with $73.38 at Monday's close.