This Week's Profitable Investment Tools Revealed: Gold, Dollar, and Stock Market on the Rise
Translated from Turkish, summarized and contextualized by DistantNews.
At a glance
- Key investment instruments like gold, the dollar, and the stock market saw gains last week.
- The BIST 100 index on Borsa Istanbul increased by 2.39% to close at 13,779.39 points.
- Major currency pairs, including the dollar and euro against the Turkish lira, also appreciated.
Investors saw positive returns across several key assets as the week concluded. The Turkish stock market, gold, and major currency exchange rates all experienced upward trends, offering gains to investors. Borsa Istanbul's BIST 100 index finished the week with a notable increase of 2.39%, closing at 13,779.39 points. Throughout the week, the index saw fluctuations, reaching a low of 13,376.01 and a high of 13,956.18. Sectoral performance within the index varied, with the Technology Index leading gains at 4.54%, followed by the Industrial Index at 2.93%, the Financial Index at 1.76%, and the Services Index at 0.37%.
Among individual stocks, Tekfen Holding Aล was a top performer, surging 35.28%. CW Enerji and Tรผrk Altฤฑn ฤฐลletmeleri also saw significant increases of 24.12% and 18.09%, respectively. Conversely, some stocks experienced declines, with ลekerbank falling 12.63%, Balsu Gฤฑda down 11.28%, and Otokar decreasing by 10.49%.
Gold, often considered a safe-haven asset, also provided substantial returns. The price of 24-karat gram gold rose by 8.29% to reach 6,664 Turkish Lira. Quarter gold coins saw an 8.25% increase, valued at 10,936 Turkish Lira, while the Republic gold coin appreciated by 8.12% to 43,532 Turkish Lira.
The foreign exchange market also showed upward movement. The US dollar gained 0.37% against the Turkish Lira, trading at 47.7030 TL. The Euro saw a more significant increase of 1.20%, reaching 55.1720 TL. The British Pound also appreciated by 0.98% to 64.3940 TL, and the Swiss Franc gained 0.95% to trade at 59.0670 TL.
Originally published by Cumhuriyet in Turkish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.