Shares of cement companies peak after major quake strikes southern Turkey

In the aftermath of the 7.7-magnitude earthquake that struck southern Turkey early on Feb. 6, cement companies recorded a considerable price rise in their shares. Afterwards, Turkey’s main stock exchange Borsa Istanbul introduced several restrictions on the stock market trading system.

Monday February 06 2023 03:18 pm

Duvar English

After the earthquake that hit the southern region of Turkey early on Feb. 6, sharp price increases were recorded in the shares of cement companies in the opening session of the main stock exchange Borsa Istanbul.

Shares of companies Konya Cement, Oyak Cement, Nuh Cement, Akçansa Cement, Göltaş Cement, Afyon Cement, Bursa Cement, Niğde Beton, Çimbeton, which are trading in Borsa Istanbul, recorded a sharp price rise this morning.

Afterwards, Borsa Istanbul announced that it put various restrictions on the stock market, such as prohibitions on short-selling transactions, to prevent speculations. It added that shares of eight companies operating in the earthquake region have been temporarily closed to trading in the stock market.

A major earthquake with a magnitude of 7.7 struck Turkey's southeastern province of Kahramanmaraş early on Feb. 6, leading to at least 912 deaths. Authorities declared a "level 4 alarm" that calls for international assistance.