Earthquake surge in cement stocks topped 30 percent

After the earthquakes centered on Kahramanmaraş, the rise experienced in cement shares in the first two days of trading last week at Borsa Istanbul also continued today.

Borsa İstanbul, which was suspended on February 8 due to the earthquakes in Kahramanmaraş, was reopened today with a series of measures. In the first half of the day, the shares of 9 cement companies rose between 9.67 and 10 percent. Thus, the rise in many shares compared to the pre-earthquake exceeded 30 percent.

The BIST 100 Index closed trading on Wednesday of last week due to the earthquakes in Kahramanmaraş, and trading on that day was also cancelled. On Tuesday, last week when the most recent transactions were made, the index lost 8.62 percent and closed at 4,505.34 points.

STOCKS HAVE BEEN HIGH SINCE THE EARTHQUAKE

Although the stock market depreciated sharply for two days, the rise in cement shares drew attention. Stocks were also at the ceiling on February 8, but with trading suspended that day, trading for the day was canceled as well.

After a one-week break, the stock market opened sharply higher today, while cement shares continued to rise. At the open, the BIST 100 index rose 5.86 percent to 4,769.15 points, while in the following hours the index rose 9.7 percent to more than 4,940 points.

RISE IN CEMENT SHARES

After the reopening of Borsa Istanbul, many cement shares rose by as much as 10 percent. Thus, the increases experienced after the earthquake reached 30 percent.

The growth rates of some cement shares with respect to the pre-earthquake were as follows: