Borsa Istanbul kicked off the week on a strong note as the BIST 100 index opened with a 0.84% increase, reaching a record level of 11,467 points. This upward momentum reflects continued investor optimism and positive sentiment in both local and global markets.
Friday’s Gains Set the Tone for the Week
Last Friday, the BIST 100 followed a buying-oriented trend and closed the day with a 0.52% gain, settling at 11,372.33 points. The new week began with even stronger momentum, as the index added 95.64 points at the opening bell.
The banking sector index rose by 1.17%, while the holding index gained 0.65%. All sector indices opened in positive territory, with the chemicals, petroleum, and plastics sector leading the way, posting a 1.33% increase.
Global Markets Boosted by Fed Signals
Global markets are also on the rise, driven by expectations that the US Federal Reserve may cut interest rates in September. These expectations gained strength after Fed Chair Jerome Powell delivered dovish remarks, fueling investor optimism worldwide. This positive global atmosphere has clearly spilled over into the Turkish markets, helping push the BIST 100 to new highs.
Key Policy Shifts in Turkey’s Banking Sector
On the domestic front, the Central Bank of the Republic of Turkey recently announced a significant change. As of August 23, new deposits and renewals for FX-protected savings accounts (Kur Korumalı Mevduat – KKM) for individual investors will no longer be accepted. This policy shift marks a major move toward normalizing the financial system and potentially redirecting savings into other investment instruments, including the stock market.
What to Watch This Week
Analysts note that investors should keep an eye on today’s key data releases. In Turkey, the real sector confidence index and capacity utilization in manufacturing will be closely watched. Internationally, market participants will follow data on building permits in the US, as well as the Chicago Fed National Activity Index and the Dallas Fed manufacturing index.
From a technical perspective, resistance for the BIST 100 is seen at 11,600 and 11,700 levels, while support is expected around 11,400 and 11,300 points.
With strong local momentum and supportive signals from global markets, Borsa Istanbul could be poised for further gains in the days ahead.
