Stock market drops sharply, foreign currency rises: This week's top-gaining and top-losing investment instruments

Stocks traded on Borsa Istanbul closed the past week with an average loss of 3.60%. While gram gold and Republic gold were also on a downward trend, upward movements in foreign exchange rates drew attention.

The BIST 100 index fluctuated between 8,985.52 and 9,427.11 points throughout the week, closing at 9,019.57 points, down 3.60% compared to the previous week.

On the gold front, the decline was notable. The gram selling price of 24-karat bullion gold in the Grand Bazaar fell by 1.33% on a weekly basis to 4,140 liras. Republic gold also lost 1.30% in value, finding buyers at 27,995 liras. Quarter gold, which was sold for 7,028 liras last week, fell to 6,935 liras this week with a 1.32% decline.

Foreign exchange rates, meanwhile, were on the rise. The US dollar increased by 0.55% on a weekly basis to reach 39.2440 liras, while the euro reached the 44.4710 lira level with a 0.69% increase.

A negative trend also prevailed on the investment funds side. Funds in general declined by 0.42%, and pension funds by 0.57%. However, an exceptional picture emerged among the funds. "Stock" funds, which provided a 2.95% gain, were the category that offered the highest return to investors.

News Source: 12punto