Turkey's equity market closed in negative territory on Monday, with the BIST 100 index finishing the session down 2.10% in Istanbul. Declines were led by companies in the Telecoms, Tourism and Non-Metal Mineral Products sectors, which contributed to the broader retreat in share prices.
Market breadth was heavily skewed toward losers: 538 stocks fell versus 99 that advanced, and 7 issues finished unchanged.
Top gainers included Odine Solutions Teknoloji Ticaret ve Sanayi AS (IS:ODINE), which climbed 10.00% - a rise of 183.00 points - to close at 2,013.00. Isiklar Enerji ve Yapi Holding AS (IS:IEYHO) added 6.19% or 12.10 points to end at 207.60, and Can2 Termik AS (IS:CANTE) rose 6.15% or 0.08 points to 1.38 by the close.
Isiklar Enerji ve Yapi Holding AS (IS:IEYHO) also reached a record high in the session, closing at an all-time peak of 207.60 after the 6.19% gain.
Largest decliners were led by Pasifik Eurasia Lojistik Dis Ticaret AS (IS:PASEU), which tumbled 10.00% or 26.80 points to finish at 241.20. Batisoke Soke Cimento Sanayi TAS (IS:BSOKE) dropped 9.99% or 2.92 points to close at 26.30, and Grainturk Holding AS (IS:GRTHO) slid 9.98% or 24.40 points to 220.10.
Commodities saw mixed movement during the session. Gold futures for December delivery fell 1.07%, losing 48.39 to trade at $4,481.51 a troy ounce. In energy markets, crude oil for October delivery increased 2.60% or $2.17 to settle at $85.57 a barrel, while the December Brent contract was up 5.21% or $4.49 to trade at $90.61 a barrel.
Foreign exchange rates recorded modest changes: USD/TRY was higher by 0.03% at 48.25, and EUR/TRY rose 0.40% to 56.10. Meanwhile, US Dollar Index Futures were down 0.27% at 99.39.
Market context and takeaways
The session was characterized by broad selling pressure across many listings, with substantial percentage moves among both winners and losers. The Telecoms, Tourism and Non-Metal Mineral Products sectors were singled out as contributors to the downturn in the BIST 100. Individual stock swings were pronounced, with several names moving near or at double-digit percentage levels in either direction.
Investors monitoring the market will note the contrast between energy prices, which moved higher, and gold futures, which declined. FX movements were relatively modest.
Data snapshot
- BIST 100 -2.10% (close)
- Advancers vs. Decliners: 99 vs. 538; 7 unchanged
- Top gainer: ODINE +10.00% to 2,013.00
- Top loser: PASEU -10.00% to 241.20
- Gold (Dec futures) -1.07% to $4,481.51/oz
- Crude Oil (Oct) +2.60% to $85.57/bbl; Brent (Dec) +5.21% to $90.61/bbl
- USD/TRY 48.25; EUR/TRY 56.10