Turkey's Borsa Istanbul closes with sharp drop from record high

ANKARA

Turkey's benchmark stock index ended Friday with losses, falling sharply from the previous day's record high to close at 2,084.47 points.

Starting the day at 2,323.16 points, Borsa Istanbul's BIST 100 index lost 194.08 points, or 8.52%, from Thursday's closing of 2,278.55 points.

The index's lowest value during the day was 2,071.25 points, while its daily high was 2,406.87 points.

The total market value of the BIST 100 was approximately 1.66 trillion Turkish liras ($109.6 billion) by market close, with a daily trading volume of 77 billion Turkish liras ($4.7 billion).

Only two of the stocks on the index rose during the day, while 98 of them fell compared to Thursday's close.

The highest trading volumes were posted by private lender Garanti BBVA, national flag carrier Turkish Airlines, and glassmaker Sise Cam.

Shares of beverage manufacturer Anadolu Efes performed the best with a 2.51% rise, while at least five companies saw their stock price plummet 10%.

One ounce of gold traded for $1,810.15 by the day's end, up from $1,785.50 at the previous close, according to data from Borsa Istanbul's Precious Metals and Diamond Markets.

The price of Brent crude oil was down 2.5% to $73.12 per barrel as of 6.40 p.m. local time (1540GMT).