The Turkish stock market ended Tuesday’s trading session in the red, as the country’s main index, the BIST 100, fell by 0.52% to close at 10,487.25 points. This drop came after the index opened the day at 10,555.20 points, showing a downward trend through the session.
According to data released by Borsa Istanbul, the benchmark BIST 100 index declined by 54.84 points compared to the previous day’s close on Monday. During Tuesday’s trading, the index touched a low of 10,487.25 points, which was also its closing point, and reached a high of 10,589.61 points earlier in the day.
In total, 67 sub-indexes recorded losses, while only 31 indexes managed to close in the green. This shows a largely bearish performance across the Turkish market on Tuesday.
The total transaction volume on the market reached a massive 85.8 billion Turkish liras, which is approximately $2.11 billion. Despite the drop in points, the trading activity remained high, showing that investor participation in the market is still very strong. The total market capitalisation of the BIST 100 index was estimated at 9.7 trillion Turkish liras, equivalent to about $239.6 billion.
In the foreign exchange market, the Turkish lira continued to weaken against major currencies. As of 6:20 pm local time (3:20 pm GMT), the exchange rate for the US dollar stood at ₺40.5345 per dollar. The euro traded at ₺46.8320, and the British pound exchanged at ₺54.1730. These figures reflect the continuing depreciation of the Turkish currency, a trend that has been observed over the past several months.
The weakness of the lira is partly linked to Turkey’s ongoing inflation problems, high interest rates, and global economic uncertainties, which have made foreign investors cautious about the market. Analysts have also noted that changes in the monetary policy direction under Turkey’s Central Bank, currently led by Hafize Gaye Erkan, continue to influence investor decisions.
On the commodities side, the price of gold was reported at $3,328.35 per ounce, reflecting global demand for the precious metal amid economic uncertainties. Meanwhile, the price of Brent crude oil was pegged at $70.15 per barrel, as oil markets reacted to changing supply dynamics and geopolitical developments, especially in the Middle East and Eastern Europe.
The Turkish market is currently experiencing mixed sentiments. While investor confidence is supported by strong trading volumes, the index’s performance shows that there is still pressure on stocks due to broader economic issues. Market experts say the fluctuations in exchange rates, especially the USD/TRY pair, are having a direct impact on listed companies, many of whom rely on imported raw materials and are exposed to foreign debt.
Furthermore, Turkey’s economy is navigating through several challenges including external debt, inflation above 70%, and reduced consumer spending. President Recep Tayyip Erdoğan’s administration has pledged to stabilise the lira and bring inflation under control, but many investors remain cautious until they see clear results.
Financial analysts in Istanbul say that investors are closely watching developments in Turkey’s interest rate policy and any upcoming decisions from the Turkish Central Bank. Global investors are also paying attention to the European Central Bank and US Federal Reserve, whose policies tend to influence emerging markets like Turkey.
The BIST 100 index has been under pressure in recent weeks due to fears of a possible global economic slowdown, rising commodity prices, and ongoing regional tensions that affect Turkey’s strategic position.
As the market prepares for the next trading session, experts advise investors to be cautious and continue monitoring both domestic economic indicators and international developments.
