TOKYO - Turkey's equity market finished the session in positive territory on Friday, with the BIST 100 gaining 4.89% at the close in Istanbul as several industrial and technology names pushed the benchmark higher.
Market leadership and top movers
Sectors that registered notable strength included Basic Metals, Technology and Metal Products & Machinery, contributing to the broad advance. The top-performing stock on the BIST 100 was Cvk Maden Isletmeleri Sanayi ve Ticaret AS (IS:CVKMD), which climbed 9.97% - an increase of 3.98 points - to finish at 43.90. Baticim Bati Anadolu Cimento Sanayi AS (IS:BTCIM) recorded a 9.96% gain, rising 0.55 points to close at 6.07. Astor Enerji AS (IS:ASTOR) also jumped 9.96%, adding 31.25 points to end the day at 345.00.
Lagging names
On the downside, Oba Makarnacilik Sanayi ve Ticaret AS (IS:OBAMS) fell 1.65%, or 0.14 points, to close at 8.34. Industrial Development Bank of Turkey (IS:TSKB) declined 0.89%, slipping 0.10 points to 11.17, while Kontrolmatik Teknoloji Enerji ve Mu (IS:KONTR) was down 0.25%, or 0.02 points, to 8.00. Advancers outnumbered decliners substantially on the Istanbul Stock Exchange, with 595 rising issues versus 29 falling.
Notable milestone
Astor Enerji AS (IS:ASTOR) reached an all-time high in the session, rising 9.96% - a 31.25-point gain - to close at 345.00.
Commodities and FX
In commodities, June gold futures were down 0.48%, a drop of 21.70, settling at $4,520.80 per troy ounce. Energy contracts firmed: crude oil for July delivery increased 1.00% or $0.96 to $97.31 per barrel, and the July Brent contract rose 1.25%, or $1.28, to $103.86 per barrel.
On currency markets, USD/TRY appreciated 0.37% to 45.74, while EUR/TRY eased 0.16% to 53.07. The US Dollar Index Futures traded 0.17% higher at 99.27.
Market breadth and context
The session showed strong breadth in Istanbul with far more advancing than declining issues, driven by moves in metal and machinery-related names as well as pockets of strength in technology shares. Commodity and FX moves accompanied equities trading, with divergent directions across gold, crude oil and the lira versus major currencies.
Data points and percentage moves quoted in this report reflect the session close values and intraday changes reported for the instruments and names listed.