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Türkiye's stock exchange, Borsa Istanbul, rallies following Israel-Iran cease-fire, as the benchmark BIST 100 Index opens the Tuesday session up 3% to 9,419.14 points.
The index had closed the previous session down 0.94% at 9,116.97 points, with a daily transaction volume of ₺74 billion ($1.87 billion).
The banking Index surged 4.71%, while the holding index rose 3.09%, reflecting broad gains across the market. The transport index posted the strongest performance among all sectors, climbing 6.17% as earlier fears of potential disruptions to trade and tourism routes gave way to renewed optimism following the ceasefire. In contrast, the only sector to post a decline was chemicals, petroleum and plastics, which slipped 1.44%.
Analysts expect markets to focus on a packed economic data schedule both at home and abroad today. From a technical standpoint, they identify 9,500 and 9,600 as key resistance levels for the BIST 100 Index, while 9,300 and 9,200 are seen as critical support thresholds.
In the derivatives market, June-dated futures contracts based on the BIST 30 Index opened the day 3% higher at 10,510.00 points.
This follows a volatile session on Monday, when the contract ended its main session down 0.6% at 10,206.00 points. However, sentiment turned more optimistic in the evening session, with the contract recovering 1.2% to close at 10,329.00. The rebound was supported by U.S. President Donald Trump’s announcement of a temporary ceasefire to halt the escalating Israel-Iran confrontation that began on June 13.
Meanwhile, the Turkish lira slightly deteriorated against all major currencies, with the euro exchange rate surpassing 46.10 to hit an all-time high. As of 10 a.m. local time (0700 GMT), exchange rates stood at 39.6090 liras to the U.S. dollar, 46.0080 to the euro, and 53.8450 to the British pound.
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