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Turkey’s Stock Market Sees Gains Following Positive Trading Session
Investing.com reports that the Turkish stock market closed higher on Wednesday, primarily driven by significant gains in key sectors, including energy and finance.
At the end of trading in Istanbul, the main index climbed 1.06%, achieving its highest level in a month.
Top Performers and Underperformers
The session highlighted strong performances from several companies. Aksa Enerji Uretim AS led the charge, surging 4.37%, equating to an increase of 1.74 points, with shares closing at 41.54. Anadolu Hayat Emeklilik AS also performed well, rising by 3.67% (3.80 points) to finish at 107.30. Additionally, Vestel Elektronik Sanayi ve Ticaret AS recorded a 3.62% increase, closing at 65.80 after climbing 2.30 points.
Conversely, some stocks faced challenges. Alfa Solar Enerji AS experienced the biggest drop, plunging 9.96% (8.45 points) to close at 76.40. Selcuk Ecza Deposu Ticaret ve Sanayi AS and Anadolu Efes Biracilik ve Malt Sanayi AS also saw declines of 3.40% (2.55 points) to 72.35 and 3.15% (5.30 points) to 163.00, respectively.
Overall, positive sentiment prevailed in the market, with 281 stocks advancing compared to 273 that declined, and 28 remaining unchanged.
Commodity Market Updates
In the commodities arena, February gold futures increased by 0.30%, amounting to $2,767.61 per troy ounce. The crude oil market saw modest gains as well, with March futures rising 0.07% to $75.88 a barrel, and the Brent oil contract increasing by 0.08% to reach $79.35 a barrel.
Foreign Exchange Movements
On the currency front, the Turkish lira saw a 0.60% depreciation against the US dollar, trading at 35.65. The euro also gained against the lira, rising by 0.61% to 37.19. Additionally, the US Dollar Index Futures recorded a slight increase of 0.09%, rising to 107.96.
These developments illustrate a dynamic trading environment in Turkey’s financial markets, with significant fluctuations in both stock and commodity prices, influenced by global economic trends and local market sentiment.
Source
www.investing.com