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What is happening on the Istanbul Stock Exchange? Will the records continue? – Spokesperson

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Stock Exchange İstanbul broke the closing record yesterday and today renewed its all-time high at the opening. According to experts, high profitability and the pursuit of inflation protection increase investor interest in the stock market.

What is happening on the Istanbul Stock Exchange?  Will the records continue?

As risk appetite in global markets continues to decline, the volume of transactions on the Istanbul Stock Exchange is increasing due to recession fears that are intensifying around the world. According to experts, the reason for this interest are mainly investors who want to turn to high-profit companies, especially banks, against inflation.

The Istanbul BIST 100 Stock Exchange Index has fluctuated sharply in the morning hours today. The index rose 1.49% and started the day at a record high with 3,408.48 points. At the opening, the BIST 100 index saw its all-time high with 3,408.48 points, gaining value of 50.12 points and 1.49 percent from the previous close. Subsequently, the index started to decline, dropping to the 3 thousand 309 level and continued its volatile course before noon.

YESTERDAY THE DISC WAS UPDATED

The BIST 100 index closed the day at 3,000 358.37 points with an increase of 4.21 percent. Thus, while achieving the highest daily close of all time, he moved his record to 3,367.31 points.

The index rose 135.62 points from the previous close yesterday. The total volume of transactions was also a record 105.3 billion lire. The banking index gained 7.58% yesterday, while the holding index gained 3.97%. Among the sector indices, metal was the top earning sector with 8.46%. 85 of the stocks included in the BIST 100 index achieved a premium, 14 of them fell.

On the other hand, the financial index gained 5.09%, the industrial index by 2.70%, the services index by 3.01% and the technology index by 2.68%. The BIST 30 index, on the other hand, closed at 669.21 points, with an increase of 175.02 points and 5.01 percent compared to the previous close.

As global markets continued their shaky course due to fears of recession and interest rate hikes by central banks, the positive divergence in the Istanbul stock market attracted attention.

HIGH BANKS PROFITS INCREASE INVESTORS

Commenting on the topic at Sozcu.com.tr, Tera Investment’s chief economist, Enver Erkan, said that the increase in banks’ profits thanks to currency-protected deposits (KMM) and the stable performance of these companies have been effective in increasing the index.

In his assessment, Erkan said: “Despite the many economic, political and global challenges over the past 10 years, the main factors that have pushed the banking index higher have been the overcoming of the obstacles of the banks, the maintenance of their growth and multiplication of bank profits for the KKM System. “

Erkan also said: “Assuming the current monetary policy will continue, banks can be expected to maintain a bullish outlook over the next period. In the case of withdrawals based on global news, it can be expected that this will be more limited on the domestic side, “he said.

INSTRUMENT OF HERITAGE AGAINST INFLATION

In the assessment of the topic in the Share & VIOP Daily Bulletin of Info Investment, it was stated that “The perception that the increase in the general level of prices can positively affect the profitability of companies after the inflation data announced in the country as one of the triggers for the stock market, as before “.

In the report, which states that the search for alternative yields for the reduction of savings together with the increase in inflation was the stock market, it is stated that “We see sectors in which household spending items are high and whose revenues may be positively influenced by inflation (food retailing, real estate investment partnerships, transport) “.

In the assessment of the Ahlatcı Investment BIST / VIOP Bulletin, it was stated that the continuation of foreign interest in banks was effective in the upward movement of the index. The report stated that overbought positions require caution, but as long as the eex remains above the 3,000 150 level, the upward movement is expected to continue.

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