Telecom stocks lift Istanbul stock exchange up 1.82 percent
Shares on the Istanbul stock exchange rose nearly two percent Friday, due to gains in telecom equipment stocks. The benchmark ISE National-100 index closed at 13,196.91, constituting a 1.82 percent rise, after touching a 12,936 low earlier.
The technology index showed a 4.15 percent rise, following the approval of a $2.525 billion deal, licensing the Is Bankasi and Telecom Italia consortium, as Turkey's third GSM operator. The ISE-30 index of Blue Chip shares closed 1.91 percent up, at 16,248.90.
Telecom equipment manufacturer, Alcatel Teletas, rose 7.14 percent to 105,000 Turkish liras (TL), to become the day’s most dynamic share. Another active share was Netas’, which gained 3.45 percent, closing at 6,000. Is Bankasi's C shares closed two percent higher at 12,750. Media and finance group Dogan Holding DOHOL.IS was the second most active share, up 3.51 percent to 14,750. Turkey's GSM operator Turkcell rose 1.28 percent to TL39,500.
In Friday's exchange, trade volume reached TL302.8 trillion ($469.5 million) — up 37 percent from the TL220.7 trillion ($343.5 million) traded on Thursday. The information technology index was the leading sector, with a 4.21 percent rise. ― (Albawab-MEBG)
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