Turkey's equity benchmark closed modestly lower on Monday, with the BIST 100 finishing the session down 0.03% in Istanbul. The session's declines were driven primarily by losses in the Textile & Leather, Technology and Chemical, Petroleum & Plastic sectors.
Among individual names, the top performers were led by Balsu Gida Sanayi ve Ticaret AS (IS:BALSU), which gained 9.97% - a rise of 1.40 points - to close at 15.44. Europower Enerji ve Otomasyon Teknolojileri Sanayi Ticaret AS (IS:EUPWR) advanced 9.96%, up 8.80 points to finish at 97.15. Girisim Elektrik Taahhut Ticaret & Sanayi AS (IS:GESAN) also posted a strong session, climbing 7.63% or 5.85 points to end at 82.55.
On the downside, Ral Yatirim Holding AS (IS:RALYH) recorded the largest fall, declining 8.08% - a drop of 16.40 points - to close at 186.60. Izdemir Enerji Elektrik Uretim AS (IS:IZENR) slipped 5.84%, down 0.62 points to 10.00, and Kiler Holding AS (IS:KLRHO) fell 4.93%, or 4.70 points, to finish the day at 90.55.
Market breadth was mixed. On the Istanbul Stock Exchange, rising issues outnumbered decliners by 311 to 292, while 20 stocks finished unchanged.
Commodities traded lower during the session. Gold Futures for August delivery declined 0.93%, down 39.39, to settle at $4,206.51 a troy ounce. In energy markets, crude oil for August delivery fell 2.85% or 2.16 to $73.69 a barrel, and the September Brent contract dropped 3.37% or 2.70 to trade at $77.35 a barrel.
In currency moves, USD/TRY rose 0.07% to 46.46, while EUR/TRY eased 0.12% to 53.19. The US Dollar Index Futures was reported up 0.08% at 100.70.
Key points
- BIST 100 closed down 0.03% with the Textile & Leather, Technology and Chemical, Petroleum & Plastic sectors leading losses.
- Top gainers included BALSU (+9.97%), EUPWR (+9.96%) and GESAN (+7.63%); notable decliners included RALYH (-8.08%), IZENR (-5.84%) and KLRHO (-4.93%).
- Commodities and currency pairs moved lower for gold and crude, while USD/TRY rose slightly and EUR/TRY fell modestly.
Risks and uncertainties
- Price volatility in commodities such as crude oil and Brent during the session reflects an area of ongoing uncertainty for markets.
- Notable intraday moves among individual stocks indicate potential for heightened stock-specific volatility.
- Currency fluctuations in USD/TRY and EUR/TRY add an element of uncertainty to market conditions.
Overall, Monday's trading closed with only a marginal decline for the benchmark, though several individual stocks and commodity contracts experienced pronounced moves during the session.