ForInvest Closing Price Forecast Survey Concludes: Investors Map 2024 Market Direction

Stock market enthusiasts have wrapped up a week of speculation: ForInvest’s comprehensive closing price forecast survey paints a clear picture of the next day’s direction for Turkey’s equity market.

Survey Scope and Methodology

■Participant Profile: 1,200 active investors and portfolio managers

■Total Responses: 3,400 forecasts

■Time Frame: September 18 – 22, 2024

■Platform: Online survey tool, results anonymized

Key Findings and Outlook

■60 % of respondents expect the BIST 100 to rise +1.5 % while

■30 % foresee a -0.8 % decline

■10 % anticipate a flat trajectory

■The biggest impact sectors are Technology and Consumer Goods, with a 70 % upside expectation

■Interest Rate Outlook: Expected to hold at 5.75 %, with a low probability of rising to 6.00 %

Market Reactions and Potential Scenarios

■BIST 100: Anticipated to climb close to the 3,000 point level following the survey

■Gold: Possible dip below 1,600 TL, with demand for a safe haven rising amid market uncertainty

■Currencies: TL against USD aimed near 1.70 TL, Euro expected to oscillate around 1.60 TL

■Short‑Term Trades: 50 % of investors predict a +1.5 % rise in BIST 100 during Q3 2024

Expert Commentary

ForInvest’s survey serves as a pivotal gauge of market sentiment. The 60 % bullish stance aligns with technical indicators such as Fibonacci retracements and EMA crossovers. Investors should pay close attention to the Technology sector’s volatility and monitor Ichimoku clouds for potential breakout signals.