ECONOMY

Borsa Istanbul reaches 104K points as Turkish stocks jump to 8-month high

Turkey's benchmark stock index Tuesday posted its eight-month highest close at 104,098.37 points.

Borsa Istanbul's BIST 100 climbed 2.77 percent or to 2,808.61 points at Tuesday's close.

The index started the day at 101,358.82 points, slightly up some 70 points from Monday's close of 101,289.75 points.

The benchmark index hovered between 103,873.10 and 101,077.08 points during Tuesday's trading.

The total market value of the BIST 100 was around 678.6 billion Turkish liras ($128.6 billion) by market close and the daily trading volume was 8.4 billion Turkish liras ($1.6 billion).

On Tuesday, 81 stocks on the index were on the rise, while 15 were on the decline, and four were flat compared to the previous close.

The top listed companies were Turkish conglomerate Koç Holding ($8.3 billion), and private lenders Garanti ($7.2 billion) and Akbank ($6.7 billion) by market value.

The highest trading volumes were posted by Garanti, national flag carrier Turkish Airlines and defense company Aselsan.

Shares of Enka Inşaat, which operates in the construction sector, were the top percent gainer with an increase of 10.19 percent in value while private lender ICBC Turkey Bank was the top percent loser as its shares were down 19.97 percent.

The U.S. dollar/Turkish lira exchange rate was 5.3050 at close, down from Monday's close of 5.3130.

The euro/lira rate fell to 6.0640 at Tuesday's close, versus 6.0710 at the previous close.

One British pound traded for 7.0030 Turkish liras, while the GBP/TRY rate was 7.0040 at close on Monday.

In Borsa Istanbul's Precious Metals and Diamond Markets, the price of one ounce of gold was around $1,308.10 by market close, up from $1,301.35 the previous day.

The price of Brent crude oil rose to $61.31 per barrel as of 6 p.m. (3 p.m. GMT) Tuesday, versus $59.81 at the previous close.

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