What Triggered the Rise in Borsa Istanbul?

The BIST 100 index, which closed last week with a loss of around 3 percent, rose 6.67 percent on the first day of the week. Rises in the index, which followed a buying course throughout the day, accelerated in the afternoon. Expert economists stated that 4 reasons stand out in the rapid exit experienced today.

The BIST 100 index in Borsa Istanbul closed last week with 3,180 points. It started the new week with an increase. In the index, which experienced a steady rise in the morning hours and in the afternoon, purchases accelerated as it climbed above 3,300 points around 16.45 pm.

What triggered the rise in Borsa Istanbul:

1-Elimination of VIOP concerns

September 30th is the expiration date for futures market contracts. There was concern that these contracts could not be completed due to large transactions in VIOP. It was announced that the detentions and the 2-year ban on trading imposed by the CMB on the names related to this incident increased investor confidence.

2-Halkbank news

The US Supreme Court has chosen to hear Halkbank to assess the immunity of foreign state-owned companies from criminal investigation. Halkbank is seeking to dismiss charges of laundering $20 billion in oil and gas revenues by helping Iran evade economic sanctions. Earlier, the Second Circuit of the US Court of Appeals, while allowing the Halkbank proceedings to continue, said it did not need to decide whether the foreign sovereign immunity law should apply to criminal cases. The US Supreme Court's decision to hear the bank was welcomed positively by the markets. Halkbank shares completed the day with an increase of 9.9 percent. The BIST Banking index also increased by 9.7 percent.

3- Expectation of reflection

The Turkish Statistical Institute (TurkStat) reported today that annual inflation rose to 83.45 percent in September. Although inflation puts a burden on households, it also brings with it the expectation that company revenues will increase. This reflects 'positively' on share performances on TL basis.

4-Balance sheet period has begun

Throughout October, major companies in the BIST 100 will start announcing their balance sheets. For this reason, on the first trading day of October, investors started to take positions in companies that are thought to have increased their profits. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!