GDANSK/ISTANBUL: Turkish stocks fell slightly on Tuesday, extending losses after a highly volatile first session following Sunday’s inconclusive presidential vote that will require a second round of voting on May 28.
Turkiye benchmark BIST-100 index dipped around 2% pre-market and turned briefly positive shortly afterwards, before pairing gains again.
It was down 0.41% by 0740 GMT. BIST-100 index closed down 6.14% on Monday as investores weighed the country’s prospects heading into a presidential run-off vote amid what Fitch called “increasing macro and external pressures”.
The banking sub-index again led losses on the index, with a 8.5% fall.
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Shares of Yapi Kredi, Is Bank and Akbank crashed more than 9.9% in pre-trade alongside major conglomerate Koc Holding, discount chain BIM and Coca-Cola.
Mining company Koza Madencilik, commercial and military vehicle producer Otokar and steel producer Kardemir were among the best performers on BIST-100 index, rising between 3.22% and 4.53%.