Stock market renewed its historical peak | Economic News

Stock market renewed its historical peak |  Economic News


While the new series of records attracted attention in Borsa Istanbul, the 10-point drop in deposit interest rates caused investors to turn their attention to stocks again. BIST 100 index, which gained 4.39 percent on a weekly basis, renewed its historical peak with 9 thousand 45 points. For a while, deposit interest rates rose above 50 percent, directing stock investors to fixed income. Speaking to Yeni Şafak, Gedik Yatırım Investment Consultancy Deputy Manager Onurcan Bal stated that the decline in deposit interest rates with the new year was effective in strengthening the BIST 100 index. Reminding that there was a more volatile course in Borsa Istanbul in November and December, Bal said, “The improvement in the technical outlook due to the exceeding of important levels also supports the index. “Purchases became stronger after the levels of 8,000 and 8,150 were crossed,” he said.

Onurcan Bal.

WE WILL SEE 11 THOUSAND AT THE END OF THE YEAR

Stating that with the BIST 100 index exceeding its peak level of 8 thousand 563 points in October, both the volume increase and the upward momentum started, Bal said, “It would not be right to attribute the upward movement in Borsa Istanbul only to foreign inflows. We expect stronger foreign purchases after the local elections. We test 9,500 in the short term at Borsa Istanbul. “I think we can see the level of 11 thousand points at the end of the year,” he said.

FOOD AND CEMENT WILL STAND OUT

Making evaluations regarding the sectoral performance of the BIST 100 index, Ahlatçı Yatırım Treasury Manager Arda Coşar said: “The potential of food, food retail and retail sector is in a good condition. Telecommunications and technology sectors may also come to the fore in the coming period. The cement sector will also gain value due to the acceleration of urban transformation. “For banks, the rating increase and the decrease in risk premium (CDS) during the year will have a positive impact.”

FOREIGN SHARE ACQUISITION MAY REACH 40%

Referring to foreign share purchases, Coşar said, “It dropped to 27 percent in May last year, but we expect a gradual increase. “Although there may not be a level of 60 percent in foreign share purchases within the year, we can reach 40 percent,” he said.

BIST 100 INCREASED 21% IN 1.5 MONTHS

Borsa Istanbul entered a downward trend after reaching the historical peak with 8 thousand 562 points on October 3, 2023. Due to new economic policies, investors turned to deposit interest rates reaching 50 percent, causing the BIST 100 index to lose value in the last 3 months of last year. However, the recent 10-point decline in deposit interest rates stood out as the most important factor supporting the upward movement in Borsa Istanbul. While deposit interest has provided a 9 percent return since the beginning of the year, the BIST 100 index has made a 21 percent premium.

PORTFOLIO SIZE 11.9 TRILLION

According to Central Registry Agency (MKK) data; There are currently 7 million 200 thousand people investing in the stock market. On October 17, 2023, the number of investors reached a record level of 8 million 500 thousand people. While the number of investors has decreased for the first time since 2022, the size of the portfolio value has increased. Portfolio value at Borsa Istanbul climbed to 11.90 trillion liras.



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