BIST 100 closes at record high, banking index leads gains
Turkey's BIST 100 rose 1.8% to a new all-time high, led by bank stocks after stronger-than-expected quarterly earnings.
Turkey's BIST 100 index closed at a fresh record high of 9,842, up 1.8% on the session, as banking stocks drove the advance. The XBANK index surged 3.2%, with Garanti BBVA, İşbank and Akbank all posting sharp gains after stronger-than-expected quarterly earnings.
Analysts attributed the rally to widening net interest margins and stabilising asset quality, which have revived foreign interest in Turkish lenders for the first half of the year. Session turnover exceeded 130 billion lira, the highest in two months.
The industrials index was broadly flat while tech names held up despite a pullback in global semiconductor shares. Inflation expectations and the CBRT's quarterly outlook report due next week will be the near-term focus for traders.
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