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Türkiye’s stock market continued its winning streak on Monday as the BIST 100 index closed at 12,254.83 points, up 0.44% in its sixth consecutive record high close.
The index peaked at 12,378.76 points during the day, supported by growing investor optimism over expectations for the Central Bank of the Republic of Türkiye’s (CBRT) upcoming monetary decision in January, with forecasts leaning toward a larger-than-expected rate cut following stronger-than-expected inflation readings.
The rise was also driven by improved global risk appetite shaped by the Federal Reserve’s policy outlook and gains in defense and technology stocks amid escalating geopolitical tensions.
Out of the 100 stocks on the index, 55 gained, 41 declined, and four remained unchanged from the previous session. Defense electronics firm Aselsan rose 1%, supermarket chain BIM climbed 2.4%, and oil refiner Tupras gained 2.8%. Shares of Turkish Airlines closed flat, while Akbank edged down 0.4%. Kiler Holding posted the sharpest decline of the day with a 9.5% drop.
Sectoral indices were also mostly up, with industrials rising 1.62%, technology gaining 1.04%, and services advancing 0.49%, while financials slipped 0.28%, reflecting varied investor sentiment across sectors.
Among sub-sectoral indices, investment trusts led with a 2.86% rise, followed by mining up 2.61% and basic metals gaining 2.24%. On the downside, the construction sector recorded the steepest fall, down 1.18%, while holdings and investments declined 0.63% and tourism dipped 0.53%.
Meanwhile, Türkiye’s 2-year government bond yield fell 0.07 percentage points to 36.98%, reinforcing expectations that the monetary easing cycle may continue.
Equity markets across Asia and Europe mostly advanced on Monday, buoyed by a positive risk tone that extended last week’s rally driven by tech and defense stocks. In Asia, Hong Kong’s Hang Seng Index rose 1.3% to close at 26,608.48, while the Shanghai Composite climbed 1.1% to 4,165.29.
European benchmarks followed suit, with London’s FTSE 100 up 0.2% to 10,140.70, and Frankfurt’s DAX gaining 0.6% to 25,405.34. Paris’ CAC 40 remained unchanged at 8,358.76. Pan-European index Stoxx 600 inched up by 0.21% to 610.95.
In the U.S., Wall Street opened lower. The S&P 500 Index dropped 0.32% to 6,944.12, the Nasdaq Composite fell 0.40% to 23,576.88, and the Dow Jones Industrial Average eased by just 0.01% to 49,499.67. However, by early afternoon, only the Dow was still in negative territory.
Gold surged above $4,600 an ounce and silver neared $86, both hitting record highs as investors sought safe-haven assets, with the U.S. dollar index down 0.2% to 98.89 amid reports that the U.S. Department of Justice is investigating the Federal Reserve, raising concerns over political interference in monetary policy under President Donald Trump’s administration.
Oil prices edged higher as geopolitical tensions flared, with Brent crude rising 0.2% to $63.48 and WTI up 0.3% to $59.13, following reports of protests in Iran and the U.S. seizure of Venezuelan oil cargoes that raised concerns over potential supply disruptions.
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