Yesterday, despite positive movement in banking stocks, teh Borsa Istanbul followed a negative course with sharp sales in Aselsan, a stock with high weighting in the index. The BIST 100 index closed the day down 0.61 percent at 12,728.18 points.
Today, at the opening, the BIST 100 index rose 43.28 points and 0.34 percent to 12,771.45 points compared to the previous close.
Domestically, the BIST 100 index completed the first half of the day with a positive trend, in parallel with global markets, ahead of the Central Bank of the Republic of Turkey (TCMB) interest rate decision.
Post-interest rate outlook changed
The TCMB’s interest rate decision, announced at 2:00 PM, was in line with expectations for a cut, but the index saw increased volatility when a 100 basis point cut came in, against market expectations of a 150 basis point reduction.
With the interest rate cut falling short of expectations, the index experienced a decline of approximately 140 points around 2:00 PM.The BIST 100 index fell from 12,808 to 12,684 points,then attempted to stabilize at the 12,728 level.
The decline in the banking index approached 3 percent, while the increase in industrial stocks exceeded 1 percent.
Afterward, renewed buying power in the market pushed the close to a record level.
Record close
The BIST 100 index on the Borsa Istanbul closed the day up 0.97 percent, gaining 123.31 points to 12,851.49 points, reaching a new record high.
