Turkish stocks advance as transport and banking sectors lead gains
Turkish equities rise on consumer and logistics strength.
Turkey’s main stock index, the BIST 100, ended Friday’s session with a 1.05% gain, buoyed by strong performances in the transport, telecommunications, and banking sectors.
The market closed on a positive note in Istanbul, as investor confidence was supported by resilience in key industrial and consumer sectors, according to Investing.com.
Among the session’s top performers was Oba Makarnacilik Sanayi ve Ticaret AS (OBAMS), which surged 9.99% to close at 59.45. Isiklar Enerji ve Yapi Holding AS (IEYHO) gained 3.66% to finish at 11.32, while Pasifik Eurasia Lojistik Dis Ticaret AS (PASEU) posted a modest 0.68% rise to end at 47.46. The upward movement reflects investor interest in consumer staples and logistics amid ongoing macroeconomic adjustments in the Turkish market.
Mixed performance across equities and commodities
On the downside, Anadolu Hayat Emeklilik AS (ANHYT) led losses with a 4.25% drop, closing at 81.20. Anadolu Anonim Turk Sigorta Sti (ANSGR) slipped 0.35%, while Oyak Cimento Fabrikalari AS (OYAKC) gained 1.98% to trade at 28.84.
In commodities, Gold Futures for June delivery edged down 0.14% to $3,240.26 per troy ounce, as global risk sentiment steadied. Crude oil for May delivery rose 0.64% to $61.90 per barrel, while Brent crude for June settled at $63.52, up 0.30%.
On the currency front, the Turkish lira weakened slightly against major peers. The USD/TRY pair rose 0.47% to 38.04, and EUR/TRY climbed 0.55% to 43.42, reflecting continued pressure on the local currency amid broader inflation concerns and geopolitical risk pricing.
The BIST 100’s weekly close marks a cautiously optimistic end to the week, with investor attention likely to turn next to central bank signals and economic data releases for further market direction
Recently we wrote, that Oil markets extended their selloff this week, with WTI crude futures falling over 3% to $60 per barrel after dropping more than 10% last week.
