Turkey's stock market ended Tuesday's session lower, with the BIST 100 closing down 0.63% and touching a new one-month low. Declines were concentrated in the Leasing & Factoring, Wood, Paper & Printing and Metal Products & Machinery sectors, which weighed on overall market performance.
Top performers
- Efor Yatırım Sanayi ve Ticaret A.Ş. (EFOR) rose 7.40% to finish at 20.62.
- Pasifik Eurasia Lojistik Dis Ticaret AS (PASEU) gained 5.83%, closing at 127.00.
- Grainturk Holding AS (GRTHO) advanced 4.73% to end the session at 247.80.
Largest decliners
- Destek Finans Faktoring As (DSTKF) fell 9.99% to close at 1,793.00.
- Europower Enerji ve Otomasyon Teknolojileri Sanayi Ticaret AS (EUPWR) dropped 9.98% to 88.40.
- Sekerbank TAS (SKBNK) declined 9.92%, finishing at 9.54.
The session breadth showed more falling issues than advancing ones on the Istanbul Stock Exchange, with 463 stocks down versus 157 that gained. Thirteen names finished unchanged.
Commodities markets moved lower during the same period. Gold futures for August delivery fell 1.01% - a decline of 41.30 - to settle at $4,035.70 a troy ounce. In energy markets, crude oil for September delivery lost 3.85% or $3.18 to trade at $79.43 a barrel, while the October Brent contract slipped 4.13% or $3.55 to close at $82.32 a barrel.
Foreign exchange rates showed modest moves against the Turkish lira. The USD/TRY pair rose 0.08% to 47.38, and the EUR/TRY rate increased 0.32% to 54.04. Meanwhile, the US Dollar Index Futures was reported down 0.22% at 101.16.
Session context
Market participants saw a mix of strong individual winners and pronounced losers, while sector-level weakness in leasing and factoring, wood, paper and printing, and metal products and machinery contributed to the index decline. The fall in the benchmark coincided with weaker commodity prices for gold and crude oil and a slightly softer US dollar index for the trading day.
What to watch
- Performance within the Leasing & Factoring, Wood, Paper & Printing and Metal Products & Machinery sectors for follow-through selling or recovery.
- Movements in global commodity prices, particularly crude oil and gold, which moved lower in the session.
- FX pair action for USD/TRY and EUR/TRY in subsequent trading sessions.