Istanbul stocks join global rally after Trump’s tariff pause

Türkiye’s stock exchange, Borsa Istanbul, opened Thursday’s session with a 3.27% jump in its benchmark BIST 100 Index, following U.S. President Donald Trump’s pause on tariffs for 75 countries, which triggered a sharp rebound in global markets.

The banking index rose by 4.25%, while the holding index gained 2.57% in value. All sector indices recorded gains, with banking being the top performer.

Yesterday, Borsa Istanbul followed a downward trend, with BIST 100 dropped 2.13% to close at 9,275.50 points, with a daily transaction volume of ₺97.6 billion ($2.56 billion).

As of 10.02 am local time (0702GMT), exchange rates stood at 37.9433 liras to the US dollar, 41.7552 to the euro, and 48.7967 to the British pound.

The price of an ounce of gold was $3,135.74, while Brent crude oil was trading at $64.97 per barrel.

Tariff pause sparks global market rally after sharp sell-off

U.S. President Donald Trump announced a 90-day suspension of additional tariffs on trade partners excluding China while increasing tariffs on Chinese imports to 125%, escalating pressure on Beijing.

The tariff pause triggered a strong rally in global markets, with major gains across Wall Street, as well as Asian and European stock exchanges, following a prolonged downturn after Trump unveiled the tariffs on April 2.

In global markets, a positive trend has emerged amid rising risk appetite following U.S. President Donald Trump’s announcement that additional tariffs on trade partners other than China would be suspended for 90 days.

Analysts emphasized that news related to tariffs remains in focus for investors.

Meanwhile, on Thursday, inflation data in the U.S. was at the center of market attention, while analysts noted that, from a technical perspective, the BIST 100 index faces resistance at 9,700 and 9,800 points, with support levels at 9,500 and 9,400.