Stock market drops sharply, foreign currency rises: This week's top-gaining and top-losing investment instruments
While Borsa Istanbul closed the week with a 3.60% loss, gold prices saw a decline, and foreign exchange rates experienced an increase. While investment funds lost value, stock funds provided gains to their investors.
12punto
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.