Economy in Turkey: Istanbul Stock Market ends the day with an increase

The BIST 100 index on the Borsa Istanbul gained 1.79%, closing the day at 7,663.62 points. The BIST 100 index on the Borsa Istanbul closed the fourth trading day of the week (November 2, Thursday) with an increase.

The BIST 100 index increased by 135.05 points compared to the previous closing, with a total trading volume of 96.4 billion Turkish lira.

The banking index gained 1.31%, and the holding index gained 1.14%.

Among the sectoral indices, the highest gainer was financial leasing and factoring with a 4.96% increase, while the tourism sector declined the most by 3.13%.

Furthermore, Hafize Gaye Erkan, the President of the Central Bank of the Republic of Turkey (CBRT), announced during an informative meeting at the Central Bank Headquarters that they had updated their year-end inflation forecast to 6.5%, the year-end forecast for 2024 to 3.6%, and the year-end forecast for 2025 to 1.4%.

Analysts noted that global equity markets followed a positive trend due to the Federal Reserve’s (Fed) interest rate decision and the statements of Fed Chairman Jerome Powell, which were in line with market expectations.