Borsa İstanbul closes the week with a sharp decline: Gold falls, dollar rises

The BIST 100 index at Borsa İstanbul completed the week with a 4.30 percent decline, closing at 14,012.42 points. During the week, the index saw a low of 13,876.66 points and a high of 14,662.89 points.

The weekly outlook for sector indices was also negative. The technology index fell by 6.74 percent to 47,382.87 points, and the industrial index dropped by 5.74 percent to 19,229.67 points. The financial index declined by 2.80 percent to 19,273.82 points, while the services index fell by 4.72 percent to 12,492.54 points.

Among the stocks within the BIST 100, the company that gained the most during the week was Vestel Elektronik with 18.76 percent. Vestel was followed by Destek Finans Faktoring with 18.07 percent and Halkbank with 17.90 percent.

In terms of the stocks that lost the most value during the week, Pasifik Eurasia Lojistik stood out. The company's shares fell by 40.90 percent, while Katılımevim Tasarruf Finansman experienced a loss of 38.14 percent and Girişim Elektrik Sanayi lost 34.91 percent.

In the ranking of companies with the highest market capitalization on Borsa İstanbul, ASELSAN took the first place with 1 trillion 770 billion 420 million liras. Tüpraş ranked second with 745 billion 560 million 89 thousand 820 liras, and Garanti BBVA was in third place with 551 billion 880 million liras.

Gold prices also saw a decline on a weekly basis. The gram price of 24-karat bullion gold decreased by 3.77 percent to 6,890 liras, and the sales price of Republic gold fell by 3.78 percent to 44,952 liras. Quarter gold was sold at 11,284 liras with a loss of 3.72 percent.

On the foreign exchange side, the selling price of the dollar rose by 0.41 percent to 48.4400 liras. The selling price of the euro increased by 0.05 percent to 56.2590 liras. The British pound fell by 0.28 percent to 65.4550 liras, and the Swiss franc dropped by 0.51 percent to 59.7740 liras.

News Source: 12punto