Turkish shares higher at close, BIST up over 1.3 pct

ANKARA (AA) - Borsa Istanbul's BIST 100 index was up 1.38 percent at the close of the daily session Monday.

The benchmark index increased by 1.088,89 points to close at 79,932.55.

The total trading volume was 3.5 billion Turkish liras (some $1.14 billion).

The banking sector index rose 1.62 percent, while the holding sector index was up 1.92 percent.

The sports sector index saw the biggest increase with 4.78 percent while the leasing and factoring sector index went down 1.32 percent.

KapitalFx analyst Enver Erkan said Turkish shares were one of the best performers in the developing economies amid expectations for strong banking sector earnings.

Erkan said that the BIST reached the highest level after the July 15 coup attempt.

"We do not expect the rise of the lira to be permanent due to the pressure on the developing countries amid the upcoming Fed meeting and the US election in November," he added. ​

The Borsa Istanbul Gold Exchange index gained 0.28 percent in value with gold trading at 125,000 Turkish liras (approx. $40.70) per kilogram.

The Turkish lira gained value against the U.S. dollar to stand at 3.0710 compared to Friday's closing rate of 3.0840.