Tekfen's Surge and Gold's Sharp Rally Mark the Week at Borsa Istanbul

Driven by heightened investor risk appetite, Borsa Istanbul concluded the week with a decisive positive performance. While industrial and technology stocks took the spotlight, the sharp rally in gold prices accelerated the search for safe havens, creating a dualistic volatility across the markets.

Sectoral Rotation Under BIST 100 Leadership

Weekly closing data revealed broad-based buying pressure across the index, while performance gaps between sub-indices did not go unnoticed:

■The BIST 100 index closed the week at 13,779.39 points, marking a %2.39 increase.

■During the week, the index tested a low of 13,376.01 points, while peaking at 13,956.18 points, indicating a volatile trajectory.

■The technology index delivered the strongest performance within its classification, rising %4.54 to 49,206.89 points.

■The industrial index climbed %2.93 to 19,017.03 points, and the financial index gained %1.76 to reach 18,853.52 points.

■The services index followed a calmer path compared to other groups, increasing by %0.37 to settle at 12,574.60 points.

Tekfen Holding Targets the Peak as Sector Divergence Deepens

Stock-based volatility in Borsa Istanbul this week showcased a distinct performance divergence. While construction and energy giants surged, profit-taking was observed in the banking and automotive sectors:

■The week's top gainer was Tekfen Holding with a return of %35.28.

■CW Enerji followed with %24.12 and Türk Altın İşletmeleri with an %18.09 rise, ranking among the following companies.

■On the red side, Şekerbank fell %12.63, Balsu Gıda dropped %11.28, and Otokar lost %10.49, ranking as the week's biggest losers.

Gold's Rally and the Unsteady Balance in Forex Rates

While global inflationary pressures and geopolitical risks carried gold prices to historical peaks, a limited but upward trend dominated forex rates on a weekly basis:

■The price of 24-carat bullion gold increased by %8.29 compared to the previous week, reaching 6,664 liras.

■The selling price of Cumhuriyet gold rose %8.12 to 43,532 liras, and quarter gold reached 10,936 liras with a %8.25 increase.

■The selling price of the US Dollar increased by %0.37 to 47.7030 liras, and the Euro rose %1.20 to 55.1720 liras.

■The British Pound gained %0.98 to trade at 64.3940 liras, while the Swiss Franc found buyers at 59.0670 liras, appreciating by %0.95.

For investors who did not shift their portfolio weights to gold this week, the stock market offered a robust alternative. The sharp surge in Tekfen Holding indicates that expectations in the construction and engineering sectors are being priced in. However, the pullbacks in Şekerbank and Otokar suggest that short-term profit-taking could signal entry opportunities. The %8 rally on the gold side serves as a reminder that commodity weight in portfolio diversification needs re-evaluation. I believe this volatility creates medium-term buying opportunities in dividend-focused industrial stocks.