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Türkiye's benchmark stock index climbed above 12,000 points for the first time on Tuesday, riding a wave of investor optimism fueled by artificial intelligence enthusiasm and expectations of monetary easing by the U.S. Federal Reserve.
The BIST 100 index rose 2.56% to reach 12,002 points during intraday trading, building on Monday's record close of 11,702 points. The index opened at 11,742 points, up 0.34% from the previous session, before accelerating gains throughout the day.
The rally marks the latest milestone for Borsa Istanbul, which has posted consecutive record closes as global risk appetite strengthens despite ongoing geopolitical tensions in various regions.
While the broader market surged, individual sectors displayed mixed performance. The financial leasing and factoring index led gains with a 1.15% increase, while the textile and leather index declined 2.31% to become the day's worst performer.
Banking stocks rose 0.19% at the opening, while the holding company index advanced 0.33%.
International markets have maintained positive momentum as investors bet on continued growth in artificial intelligence and technology companies. Expectations that AI firms will expand investments and sustain profitability have emerged as primary drivers of risk-taking appetite in the new year.
The sentiment has received additional support from U.S. military intervention in Venezuela, which boosted oil and defense industry stocks. Markets have sustained their upward trajectory despite regional geopolitical strains.
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Anticipation that the Federal Reserve may begin cutting interest rates has provided supportive conditions for global markets since April. The prospect of monetary easing has reinforced investor confidence across asset classes.
Analysts noted that market participants are closely monitoring several key economic indicators, including Türkiye's real effective exchange rate data and international releases such as global services and composite Purchasing Managers' Index figures, along with German inflation data.
Technical analysts identified resistance levels for the BIST 100 at 11,800 and 11,900 points, with support positioned at 11,600 and 11,500 points.
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