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Borsa Istanbul’s BIST 100 hits all-time high, closing at 10,208.65 points

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May 2, 2024

Borsa Istanbul’s BIST 100 index reaches an all-time high, marking a historic milestone as the market’s durability and investors’ faith in the Turkish economy is rising

With a noteworthy increase of 1.62% from its previous session, Borsa Istanbul’s BIST 100 index reached an all-time high on Thursday, marking a historic milestone closing at 10,208.65 points.

This market’s durability and investors’ faith in the Turkish economy are shown by this noteworthy rise, which comes after the market gained 162.91 points from Tuesday’s closing.

The stock exchange was closed on Wednesday in celebration of May 1 Labor Day, which resulted in a brief suspension of trade. Yet, there was a lot of action on Thursday during the session, as the BIST 100 index reached a high of 10,208.79 and a daily low of 10,097.39.

By the end of trading, the BIST 100 stocks’ combined market value was almost 8.7 trillion liras ($270.7 billion). It was trading at a healthy 64 billion liras ($1.96 billion) each day, a sign of persistent investor interest and involvement.

The price of gold remained stable at $2,314.05 per ounce, while the price of Brent crude oil was around $83.41 per barrel at 6:21 p.m. local time In the meantime, the price of commodities throughout the world showed stability.

Additionally, there was some stability in the currency markets, with the US dollar/

Turkish lira trading at 32.3825, the euro/lira at 34.7148, and the British pound at 40.4537 liras.

Positive economic data and continuous attempts to improve market transparency and regulatory frameworks have contributed to investors’ increased optimism, as seen by the rise in the BIST 100 index.

The endurance of Türkiye’s stock market is evidence of the country’s economic potential and investor appeal, particularly as it navigates a difficult global economic backdrop. 

Source: AA

Last Updated:  Jun 3, 2024 4:55 PM