The Stock Exchange Finished Thursday on the Rise
The BIST 100 index finished the day with an increase, led by banking stocks, while global and local developments impacted the markets.
The BIST 100 index closed Thursday on the rise, recording an increase of 387.19 points compared to the previous close. Starting the day with a decline, the index recovered led by banking stocks.
General Course of the Markets
The BIST 100 index finished Thursday with an increase of 387.19 points compared to the previous close. Starting the day with a decline, the stock market entered an upward trend with incoming purchases in the following hours.
Sectoral Developments and Banking Stocks
The banking index gained 8.88 percent in value, becoming the top gainer among sectors. The holding index recorded an increase of 0.64 percent. In contrast, the sector with the highest loss was financial leasing and factoring with 9.28 percent.
Statements and Decisions of Official Institutions
Domestically, the Financial Stability Committee announced that there are no fundamental or structural risks in the general functioning of capital markets. Following this statement, a noticeable increase was observed in banking stocks.
CMB and TEFAS Decisions
The Capital Markets Board decided to suspend trading for all mutual funds of seven portfolio management companies traded on the Turkey Electronic Fund Trading Platform. In addition, it was decided to liquidate certain mutual funds.
Global Markets and CBRT Evaluations
While the US Federal Reserve's rate hike after more than three years reduced uncertainty, the decline in oil prices eased inflation concerns. Meanwhile, the Central Bank of the Republic of Turkey stated in the Monetary Policy Committee Meeting Summary that a mild course in core goods group prices is expected in September.