Weekly loss at Borsa Istanbul: Index falls below 14,000 points

The BIST 100 index could not maintain its gains this week following the strong rally it showed last week. The index, which was hovering above the 14,000-point level at the beginning of the week, closed the week with a significant loss following the sharp sell-offs on Thursday.

During the week, the index started trading at 14,269.21 points and briefly rose to 14,532.67 points. However, this momentum gave way to a decline in the following days, and the BIST 100 finished the week at 13,934.06 points on Friday. Thus, the index retreated by 1.74 percent on a weekly basis. The lowest level seen throughout the week was 13,718.14 points.

Banking, industrial, and holding stocks also ended the week with losses. The banking index lost 1.64 percent, the industrial index 2.60 percent, and the holding index 2.90 percent in value.

WEEK'S GAINERS AND LOSERS

Among the stocks that attracted investor interest, Destek Finans Faktoring (DSTKF) topped the list, finishing the week with a 35.64 percent gain. It was followed by Tr Anadolu Metal Madencilik (TRMET) with an 11.35 percent increase and Galatasaray Sportif AŞ (GSRAY) with an 8.94 percent gain.

In contrast, the stock that lost the most value during the week was Girişim Elektrik Sanayi (GESAN). GESAN fell by 16.70 percent, while Qua Granit Seramik (QUAGR) dropped 14.16 percent and Ral Yatırım Holding (RALYH) fell 13.51 percent.

The ranking of companies with the highest market capitalization at Borsa Istanbul remained unchanged this week. ASELSAN (ASELS) topped the list with a value of 1 trillion 428 billion 420 million TL. Kiler Holding (KLRHO) reached 714 billion TL to take second place, while Garanti BBVA (GARAN) took third place with a market capitalization of 662 billion 340 million TL.

In terms of trading volume, Turkish Airlines (THYAO) ranked first with a volume of 99 billion 847 million TL. It was followed by ASELSAN (ASELS) with 68 billion 733 million TL and İş Bankası (ISCTR) with 56 billion 2 million TL.

News Source: 12punto