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31-05-23

Türkiye's Benchmark Stock Index Opens with Slight Increase as Markets Show Resilience

(MENAFN) On Wednesday, Türkiye's benchmark stock index, the BIST 100, began the trading day at 4,956.26 points, marking a modest rise of 0.10 percent or 4.91 points compared to the previous closing. The positive start suggests a continuation of the market's resilience and stability.

The BIST 100 index had closed on Tuesday at 4,951.35 points, experiencing a notable surge of 3.83 percent and reflecting a robust trading session with a daily volume of 91 billion Turkish liras (USD4.48 billion). The surge in trading volume indicates increased investor activity and interest in the Türkiye market.

In terms of currency exchange rates, the US dollar to Turkish lira stood at 20.7005 as of 9:54 a.m. local time (0654 GMT). Additionally, the euro to lira exchange rate was recorded at 22.2612, while the British pound was trading at 25.6230 Turkish liras. These exchange rates indicate the current value of foreign currencies in relation to the Turkish lira.

In the global commodities market, the price of Brent crude oil was approximately USD73.55 per barrel. The stable price of oil suggests a steady demand and a balanced market. Meanwhile, the price of gold per ounce was recorded at USD1,980.50, reflecting the ongoing value and appeal of the precious metal in the global market.

Overall, Türkiye's stock market demonstrates resilience and stability, with a modest increase in the benchmark index and positive trading volume. The currency exchange rates and commodity prices further contribute to the overall economic landscape, indicating stability and market equilibrium.
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