Weekly market summary: BIST 100 declines, gold falls, foreign exchange rates rise
While the BIST 100 closed the week with a 3.48 percent decline and gold prices retreated, increases were observed in the dollar, euro, sterling, and franc.
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According to a report by Sözcü, selling pressure dominated the markets over the past week in stocks and gold, while an upward trend was observed in foreign exchange rates. On Borsa İstanbul, the BIST 100 index completed the week with a 3.48 percent loss at 13,458.10 points.
Although the index fell as low as 13,216.16 points and rose as high as 14,085.39 points during the week, it could not maintain these levels. Among sector indices, the sharpest decline occurred in the technology sector. The technology index fell by 7.15 percent on a weekly basis to 47,070.34 points.
The industrial index fell by 3.85 percent to 18,476.08 points, the financial index by 2.03 percent to 18,526.97 points, and the services index by 1.15 percent to 12,527.90 points.
Despite the generally weak trend in the stock market, notable gains were seen in some stocks. The top-performing stock of the week was Pasifik Eurasia Lojistik, with a 35.14 percent increase. It was followed by Efor Yatırım with a 13.96 percent rise and Aksa Akrilik Kimya with a 7.88 percent increase.
Among the stocks that lost the most value during the week, Şekerbank ranked first. Şekerbank shares fell by 40.73 percent, while Destek Finans Faktoring lost 16.85 percent and Europower Enerji lost 15.24 percent.
There was no change at the top of the market capitalization rankings. ASELSAN maintained its first-place position with a market value of 1 trillion 560 billion TL. ASELSAN was followed by Tüpraş with 568 billion TL and Enka İnşaat with 525 billion TL.
Limited declines were recorded in gold prices on a weekly basis. 24-karat gram gold fell by 0.50 percent to 6,154 TL. Cumhuriyet gold finished the week with a 0.57 percent loss at 40,263 TL, while quarter gold fell by 0.66 percent to 10,103 TL.
On the foreign exchange front, the picture pointed to an increase. The dollar rose by 0.38 percent to 47.5260 TL, and the euro increased by 1.22 percent to 54.5180 TL. The British pound rose by 1.02 percent to 63.7670 TL, and the Swiss franc increased by 1.06 percent to 58.5130 TL.
As the markets enter a new week, investors will focus on the performance of technology stocks on Borsa İstanbul, the weakening in gold prices, and the sustainability of the rise in foreign exchange rates.