Stocks in Turkey Hit All-time High

BIST 100 increased to an all-time high of 13906.00 Index Points. Over the past 4 weeks, BIST NATIONAL 100 gained 18.65%, and in the last 12 months, it increased 42.04%.

BIST 100 increased to an all-time high of 12924.00 Index Points. Over the past 4 weeks, BIST NATIONAL 100 gained 13.83%, and in the last 12 months, it increased 27.08%.

Turkey's BIST 100 stock index surged above the 12,700 mark in January, a new record, amid strong support from banks and the defense industry as markets assessed the outlook for financial conditions this year. The Turkish central bank cut its benchmark policy rate by 100bps in its first decision of the year, less than expectations of a 150bps cut, but reiterated that its baseline scenario sees underlying inflation continue to slow this year. The event maintained hopes by equity investors that a softer magnitude of economic uncertainty in Turkey this year may support the corporate backdrop, lifting shares in the heavyweight banking sector since the start of January. The stock index was also supported by softer political uncertainty after the national court's dismissal of the case against opposition party politicians last year. Aselsan also extended its over 200% surge from the previous year as geopolitical risks across the globe maintain support for defense companies in NATO.