Istanbul Stock Exchange Closes 0.71% Lower
Istanbul Stock Exchange's BIST 100 index closed down 0.71% at 14,484.91 points. The market was weighed down by negative sentiment and geopolitical uncertainties.
Istanbul Stock Exchange declined on Monday, contrary to expected recovery, closing lower. The BIST 100 index finished at 14,484.91 points with a daily loss of 0.71%. The market remains constrained by rising global geopolitical tensions and macroeconomic uncertainties.
Escalating US-Iran tensions and ambiguity around peace talks continue to weigh on all regional bourses. As investors lose risk appetite, financial assets face selling pressure. Dollar/lira parity continues to strengthen, putting pressure on nominal asset classes.
External factors remain critical for the Turkish economy. Volatility in oil prices and shifts in global risk perception could adversely affect performance of local exchange-listed companies. Macroeconomic data releases and geopolitical developments will be the market's key drivers in coming days.