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Borsa Istanbul leads investors to highest returns this week

Borsa Istanbul leads investors to highest returns this week Borsa Istanbul 100 Index (BIST100) represents the top 100 companies listed on the Borsa Istanbul stock exchange in Türkiye (AA Photo)
By Newsroom
Jun 22, 2024 9:58 AM

The BIST100 index on Borsa Istanbul proved to be the most profitable asset for investors this week, despite only two trading days.

It recorded a 2.86% gain, closing the week at 10,771, showing strong performance compared to the previous week.

Evaluation of short trading week

With most domestic markets quiet because of the Eid holiday, the dollar saw limited upward movement, while gold prices fluctuated widely throughout the week, closing around ₺2455 with a modest 0.2% decline for the week.

Economic data, expectations

In the U.S., retail sales figures came in below expectations, indicating economic cooling. Weekly unemployment claims exceeded forecasts, reinforcing expectations for a more dovish Federal Reserve policy.

Outlook for coming week

Next week, markets will focus on the Central Bank of the Republic of Türkiye (CBRT) interest rate decision and Türkiye’s potential removal from the gray list.

Analysts emphasize the importance of maintaining support above 10,650 for the index, with the ₺2460- ₺2430 range seen as a crucial support level for gram gold.

Last Updated:  Jun 22, 2024 3:43 PM