Borsa Istanbul opens higher, lira flat against dollar

ANKARA (AA) - Borsa Istanbul’s BIST 100 index opened 232.40 points higher on Thursday.

The BIST 100 index saw a 0.31 percent or 232.40 point increase to open at 74,991.46 points after slipping on back of the broad rise of the U.S. dollar in global markets the previous day.

The index closed Wednesday 0.52 percent lower at 74,759.06 points as the Turkish lira continued to lose against the U.S. dollar.

The best performer in the Borsa Istanbul’s sub-indexes was tourism sector shares, up 1.33 percent, while insurance sector shares were the worst, down 0.38 percent.

Markets are expected to take their cues today from important new U.S. economic data such as consumer price inflation, weekly unemployment benefits applications, and housing starts.

Fed Chair Janet Yellen is also scheduled to speak to a Senate committee, which may have a considerable impact on Fed rate hike bets and the value of the U.S. dollar.

The U.S. dollar/Turkish lira exchange rate, which was at 3.3201 by the time markets closed at 5.30 p.m. (1430GMT) Wednesday, was flat at the 10.00 a.m. (0700GMT) open Thursday.