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Türkiye's stock exchange, Borsa Istanbul, extended its rally on Tuesday as the benchmark BIST 100 index rose by over 1% intraday, surpassing the 12,900 level for the first time.
The BIST 100 index reached an intraday high of 12,914.06 points before retreating to around 12,770. Thus, the index delivered over 14% since the start of the year, catching up to its whole-year increase in 2025.
The BIST 100 index opened 0.10% higher at 12,760.83 on Tuesday, following a previous session that saw a 0.63% gain to a record close of 12,747.88.
All four main sectoral indices ended the day in positive territory as of 4:30 p.m. (GMT+3), led by technology, which surged 4.86% to 38,768.03.
Financials followed with a 0.80% gain, closing at 17,732.09, while Industrials added 0.43% to finish at 15,754.41. Services dipped slightly by 0.08% to 11,490.30, marking the only main index to decline.
Among the 23 sub-sectoral indices, 16 advanced, six declined, and one was nearly unchanged. The top three performers were brokerage houses (+5.36%), leasing & factoring (+2.64%), and mining (+2.10%). On the other end, the largest decliners included construction (−1.28%), basic metals(−0.80%), and telecommunications (−0.73%).
The banking index also saw an increase of over 1%.
In the index, defense firm Aselsan jumped 6.2%, Kiler Holding gained 6%, and Akbank and Tupras rose around 2%, helping lift the benchmark toward record levels.
Beyond the stock exchange, growing optimism was also evident in Türkiye’s bond market, as two-year government yields fell to 35.71% amid expectations of lower borrowing costs. Meanwhile, the U.S. dollar traded at 43.2865 lira, and the euro hit a new high of 50.9933.
Investors eye the upcoming Monetary Policy Committee (MPC) meeting on Thursday, Jan. 22, in which they anticipate a 150 basis point rate cut, bringing the policy rate down to 36.5%.
Another major development is the credit rating updates by Fitch and Moody’s on Friday, as Fitch is expected to lift its outlook to Positive while Moody’s is expected to hold steady. Türkiye currently holds a sovereign credit rating of BB- with a stable outlook from both Fitch and S&P, while Moody’s rates it at Ba3, also with a stable outlook.
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