During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
Turkish equities slump at close of trade
On Tuesday, Turkish equities went down after the settlement due to the fact that losses in the Leasing & Factoring, Wholesale & Retail Trade, and Tourism sectors suppressed the country’s shares.
As a matter of fact, the BIST 100 headed south by about 0.76% at the close in Istanbul.
On the BIST 100, the top-notch gainer was represented by Banvit Bandirma Vitaminli Yem Sanayi AS. These equities managed to inch up by up to 6.23% concluding the trade with a reading of 11.420. Besides this, Turk Traktor ve Ziraat Makineleri AS headed north by about 2.39% concluding the trading marathon at 34.24. As for Cam Sanayi AS, these equities surged by about 1.98% in last trade being worth 2.580.
On the contrary, the worst performer of the trading marathon was represented by Trabzonspor Sportif Yatirim ve Futbol Isletmeciligi Ticaret AS. The equities of this Turkish company went down by 4.85% being worth 1.570 at the settlement. Additionally, Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS headed south by about 4.03% coming up with an outcome of 12.61. As for ICBC Turkey Bank AS, these shares decreased by nearly 3.07% trading at 5.060.
On the Istanbul Stock Exchange, siding equities managed to outperform soaring ones by 276 to 91, while 38 didn’t change.
Aside from that, February delivery gold futures tacked on by up to 1.14% ending up with $1272.50 a troy ounce. Furthermore, February delivery crude futures went down by 6.34% coming up with a reading of $42.70 a barrel. As for the March Brent oil contract, it slumped by nearly 6.23% being worth $50.73 a barrel.
The currency pair USD/TRY managed to head north by up to 0.24% being worth 5.3001. As for EUR/TRY, this pair surged by 0.08% reaching 6.0334.
Additionally, the USD index decreased by 0.46% hitting 96.010.
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