UPDATE - Borsa Istanbul hits all-time high at weekly close

By Tuba Sahin

ANKARA (AA) – Turkey’s benchmark stock index was up 0.83% to close Friday at an all-time high of 1,323.95 points.

Starting the day at 1,315.69 points, Borsa Istanbul’s BIST 100 index earned 10.93 points over Thursday’s close of 1,313.02 points.

On a weekly basis, the benchmark index posted a 2.53% rise thanks to new economy management's emphasis of “the new era” in the economy.

During the day, the index hovered between 1,315.59 and 1,327.40 points -- 73 stocks on the index rose, 25 fell, and two were flat compared to Thursday.

The total market value of the BIST 100 was around 976.2 billion Turkish liras ($127.3 billion) by market close, with a daily trading volume of 12.3 billion Turkish liras ($1.6 billion).

The highest trading volumes were posted by private lenders Garanti and Akbank, and energy company Ipek Dogal Enerji on Friday.

Catering company DOCO was the best performer of the day, with its shares up 9.98%, while stocks of iron and steel producer Kardemir suffered the most, losing 3.08%.

The price of one ounce of gold was $1,868.40 by market close, up from $1,862.70 at the previous close, according to data from Borsa Istanbul’s Precious Metals and Diamond Markets.

The price of Brent crude oil was around $44.3 per barrel as of 6 p.m. local time (1500GMT) on Friday.