Stock exchange ends week as Türkiye’s top performer amid market optimism
The illustration displays a BIST 100 stock market ticker with an upward green triangle. (Adobe Stock Photo)
The most profitable investment instrument of the week in Türkiye was the stock exchange as the benchmark index ended the week with an 8.78% gain, closing at 10,507.11 points following better-than-expected February inflation and continuing interest cut cycle.
The BIST 100 index fluctuated between a low of 9,748.03 points and a high of 10,556.78, eventually surpassing last week’s closing level.
Trading activity remained robust, with the total transaction volume hitting ₺134.4 billion ($3.68 billion) and the overall market capitalization standing at ₺9.28 trillion.
Euro follows stock exchange
The Turkish lira experienced mixed movements against major currencies. The USD/TRY exchange rate dipped 0.18% to 36.4480, while the EUR/TRY rate surged 4.19% to 39.5810. The GBP/TRY exchange stood at 47.0915 by the end of the trading session.
Meanwhile, gold prices continued their upward trajectory, with the price of an ounce reaching $2,925.50. In domestic markets, the price of one gram of 24-karat gold rose 2.34% to ₺3,418.
Investment funds recorded an average weekly gain of 1.76%, while pension funds rose 2.80%. Among various categories, equity investment funds led the gains, climbing 5.92% over the week.
February’s inflation figures, released by the Turkish Statistical Institute (TurkStat) on March 3 showed that annual inflation fell to 39.05%, beating market expectations of 39.9%.
Following the promising data, the Central Bank of the Republic of Türkiye (CBRT) continued its rate-cut cycle for the third consecutive month, reducing the policy interest rate by 250 basis points.
