UPDATE - Turkish stocks close week with fall

UPDATES WITH MORE DETAILS

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's benchmark stock index closed Thursday at 101,110.11 points on the last transaction day of the week, down 0.48% from the previous close.

Borsa Istanbul's BIST 100 index started the day at 101,595.33 points. As of the daily close, it dropped 485.22 points from Wednesday's close of 101,595.33 points.

Borsa Istanbul markets will be closed on Friday due to the May 1 International Labor Day.

During the day, the index hovered between 99,359.52 points and 102,328.43 points.

The total market value of the BIST 100 was around 711.4 billion Turkish liras ($101.94 billion) by market close, with a daily trading volume of 12.93 billion Turkish liras ($1.85 billion).

On the last transaction day of the week, 32 stocks on the index rose, 64 were down and four were flat compared to Wednesday.

The highest trading volumes were posted by private lender Garanti, national flag carrier Turkish Airlines and defense giant Aselsan.

Tire producer Brisa was the best performer, with its shares up 10%, while shares of medicine manufacturer Deva dropped the most, losing 10%.

The price of one ounce of gold was $1,717.15 by market close, up from $1,712 at the previous close, according to data from Borsa Istanbul's Precious Metals and Diamond Markets.

The price of Brent crude oil was around $26.80 per barrel as of 6 p.m. (1500GMT) on Thursday.