Steady Rise in BIST 100 Amid Sectoral Divergence: End‑Day Review

Turkey’s main exchange posted a modest gain in a low‑volatility session, lifting the BIST 100 index by 0.28% to close at 14,172.26 points, signalling a cautious optimism.

Istanbul Exchange Pulse: A Calm Climb for BIST 100

■Opened 5.21 points (0.04%) at 14,137.44.

■Intraday low hit 14,092.84, high reached 14,249.99.

■BIST 30 edged up 0.03% to 16,029.11.

Sectoral Tug‑of‑War: Tech Slump vs. Industrial Gains

■Services index rose 0.31%.

■Financials climbed 0.50%.

■Industrials posted the strongest gain at 0.66%.

■Technology fell 0.68%.

■ASELSAN, Tüpraş, Turkish Airlines, Astor Energy, and Akbank led trading volume; 44 stocks outperformed while 56 lagged.

Gold Gleam and Currency Fluctuations

■Spot gold traded at $4,387/oz.

■Istanbul Gold Market’s standard gold fell 0.3% to 6,722,000 TRY/kg.

■The Central Bank quoted the dollar’s effective rate at 47.6872 TRY (buy) and 47.8783 TRY (sell), versus previous 47.6524/47.8434.

■International FX rates: EUR/USD 1.1581, GBP/USD 1.3549, USD/JPY 159.0.

■Brent crude (October contract) rose 0.8% to $87.7.

Bond Market Tug‑of‑War: 2028 Yield Snapshot

■The Mar 15 2028 bond delivered a simple return of 37.67% and a compounded return of 41.22%.

This modest market uplift reflects sufficient liquidity despite a tightening credit environment. The Central Bank’s hawkish stance and macro‑prudential safeguards are preserving banks’ capital buffers, yet they are dampening commercial credit growth. The squeeze in SME financing could strain cash flows in that segment, translating into a measured risk appetite across equities. Until stability is firmly re‑established, investors would be prudent to steer clear of the more volatile tech stocks and favor defensive sectors such as aerospace, energy, and utilities for a more resilient portfolio.