The BIST 100 reached a new all-time high of 10500 as high inflation in Turkey continues to erode consumers’ savings and retail investors run to the stock market to preserve their savings. In April, inflation rose to 69.80%, the highest level since November 2022. Market participants expect inflation to end the year around 44% and the central bank upwardly revised its year-end inflation forecast to 38% from 36%. The new economic team which took office in the second half of 2023 has been taking steps to address inflation and transition the country to a more orthodox policy. The key interest rate was maintained at 50% on April 25th, following a surprise 500bps hike in March, but policymakers indicated that further rate hikes could be implemented if inflation prospects worsen.
The main stock market index in Turkey (BIST 100) increased 3173 points or 42.48% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Turkey. Historically, the Turkey Stock Market reached an all time high of 10652.28 in May of 2024. Turkey Stock Market - data, forecasts, historical chart - was last updated on May 20 of 2024.
The main stock market index in Turkey (BIST 100) increased 3173 points or 42.48% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from Turkey. The Turkey Stock Market is expected to trade at 9926.97 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 9220.88 in 12 months time.