Turkish stocks enjoy record close as bank stocks surge

By Gokhan Ergocun

ANKARA (AA) - Turkey’s benchmark index closed the day with a 979.04-point hike to reach a new historic high of 100,617 points on Wednesday.

On the first day of a shortened trading week due to the Muslim Eid al-Fitr holiday, Borsa Istanbul’s BIST 100 index rose 0.98 percent with a total trading volume of 4.3 billion Turkish liras (approximately $1.22 billion).

The banking and holding sectors rose 1.33 percent and 0.15 percent, respectively.

Among all sectors, the basic metal index was the best performer -- up 4.6 percent -- while constructıon suffered the largest drop, down 0.75 percent.

Shares of major iron and steel producer Kardemir (KRDMD) were the top gainer, up 6.75 percent, while stocks of Turkish conglomerate Ihlas Holding (IHLAS) were the top loser, falling 2.50 percent.

The index's top five stocks by transaction volume were national flag carrier Turkish Airlines (THYAO), private lender Garanti (GARAN), iron and steel producer Eregli Demir Celik (EREGL), mining company Koza Madencilik (KOZAA), and leading petrochemicals producer Petkim (PETKM).

The U.S. dollar/Turkish lira exchange rate rose to 3.5200 as of 5 p.m. (1400GMT) on Wednesday, compared with 3.5080 at Friday's close.

Borsa Istanbul's Gold Exchange index fell 0.41 percent while the price of gold per kilogram rose to 142,850 Turkish liras (some $40,609) as of 4.30 p.m. (1330GMT).