BIST 100 index earns around 2,400 points from previous close
Turkey’s benchmark stock index jumped by 2.25%, or 2,385.63 points, on Monday to start the week at 108,379.28 points.
At Friday’s close, Borsa Istanbul’s BIST 100 index was down 4.01% at 105,993.65 points, with a daily trading volume of 9.77 billion Turkish liras ($1.56 billion).
The Capital Markets Board of Turkey, which banned short sale transactions in Borsa Istanbul on Friday, announced on Monday that the ban would remain until further notice.
“Short selling means selling capital markets instruments that the seller does not own, or placing an order for such sales,” said Borsa Istanbul, adding that any sales “completed by using borrowed capital markets instruments to fulfill the settlement obligation relating to the sales” would also be counted as a short sale.
The U.S. dollar/Turkish lira exchange rate stood at 6.2380 as of 9.30 a.m. local time (0630GMT) on Monday, versus 6.2330 at the previous close.
The euro/Turkish lira exchange rate increased to 6.8920, compared to 6.8450, and one British pound traded for 8.0300 Turkish liras. It was 8.0270 at the last week’s close.
One barrel of Brent crude oil sold for around $51.20 as of 10 a.m. local time (0700GMT) on Monday.