Turkish BIST 100 Index Jumps 2.95%, Led by Banking and Transport Stocks

Turkish stocks closed significantly higher on Thursday, with the benchmark BIST 100 index posting a strong advance. The rally was driven by broad gains across key sectors including Banking, Transport, and Telecoms, according to market data.

Thursday's Trading Session

At the close in Istanbul, the BIST 100 index surged 2.95%. Despite the strong performance of the main index, market breadth on the wider Istanbul Stock Exchange was negative. Data showed that 402 stocks declined while 227 advanced, and 16 remained unchanged, suggesting the gains were concentrated in larger-cap names.

Standout Performers and Laggards

Several companies posted notable gains, with some approaching the daily trading limit. The top performers on the BIST 100 included:

• Mavi Giyim Sanayi Ve Ticaret AS (MAVI): Rose 9.97% to close at 37.72.
• Yapi ve Kredi Bankasi AS (YKBNK): Added 9.96% to finish at 35.32.
• Tekfen Holding AS (TKFEN): Gained 9.93% to reach an all-time high of 258.00.

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In contrast, a few stocks faced steep sell-offs, with the worst performers of the session each falling by 10.00%. These included Girisim Elektrik Taahhut Ticaret & Sanayi AS (GESAN) and Isiklar Enerji ve Yapi Holding AS (IEYHO). Shares in Gulermak Agir Sanayi Insaat ve Taahhut AS (GLRMK) also dropped 10.00%, hitting a new 52-week low.

Currency and Commodity Markets

In foreign exchange markets, the Turkish Lira saw slight movements against major currencies. The USD/TRY pair edged up 0.04% to 48.67, while the EUR/TRY pair rose 0.33% to 56.00.

Elsewhere, energy commodities traded lower, with Crude oil for October delivery falling 1.55% to $100.84 a barrel and the November Brent contract declining 2.16%. Gold futures for December delivery moved higher, gaining 0.25% to trade at $4,398.25 a troy ounce.