Turkish stocks down over 2.5 pct at close

Borsa Istanbul's BIST 100 index closes day at around 101,000 points; US dollar/Turkish lira rate stands above 3.57

By Muhammed Ali Gurtas

ANKARA (AA) - Turkey's benchmark stock index fell 2.61 percent to close at 101,218.30 points on Wednesday.

Borsa Istanbul's BIST 100 index was down 2,711.04 points with a trade volume of 5.3 billion Turkish liras ($1.48 billion).

The banking and holding sector indices fell 4.95 and 1.48 percent, respectively.

Among all sectors, the BIST banking index was the worst performer, falling 4.95 percent, while the insurance sector index was the only one to rise, gaining 0.20 percent.

Stocks of private equity firm Gozde Girisim (GOZDE) were the top gainer with a 4.91 percent increase, while private lender Garanti Bankasi (GARAN) suffered the biggest decline, with its stocks going down 5.88 percent.

The five most-traded stocks of the BIST 100 were national flag carrier Turkish Airlines (THYAO), Garanti (GARAN), iron and steel company Kardemir Karabuk (KRDMD), followed by another private lender Akbank (AKBNK) and energy and mining company Ipek Dogal Enerji (IPEKE).

The U.S. dollar/Turkish lira exchange rate climbed to 3.5740 by 5 p.m. local time (1400GMT) on Wednesday, up from 3.5480 at Tuesday's close.

Borsa Istanbul's Gold Exchange index fell 0.85 percent with the price of gold per kilogram standing at 148,500 Turkish liras ($41,588) as of 4.30 p.m. local time (1330GMT).

The benchmark stock index rose 1,659.16 points or 1.62 percent to close at 103,929.33 points on Tuesday.


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