BIST 100 Leads Global Markets with Outstanding First-Half Performance

Istanbul Stock Exchange’s BIST 100 Index Surges 42.54%, Achieving Record Highs Amid Global Market Gains

In an impressive display of market performance, Istanbul’s BIST 100 index concluded June with a 2.38% increase, reaching 10,647.91 points. This robust growth marked a remarkable 42.54% rise in the first half of the year, outpacing prominent global indices and solidifying its position at the pinnacle of world stock markets.

The global rally, initially ignited by the tech sector’s surge on New York’s stock exchange, spilled over into European and Asian markets. In the U.S., the Nasdaq index climbed 18.13%, the S&P 500 rose 14.48%, and the Dow Jones edged up by 3.79% during the first half of the year. Across the Atlantic, Germany’s DAX 40 increased by 8.86%, the UK’s FTSE 100 by 5.57%, and Italy’s MIB 30 by 9.23%, while France’s CAC 40 saw a slight decline of 0.85%.

In Asia, Japan’s Nikkei 225 soared 18.28%, Hong Kong’s Hang Seng gained 3.94%, India’s Sensex rose 9.40%, and South Korea’s Kospi added 5.37%. Conversely, China’s Shanghai Composite experienced a minor drop of 0.25%.

Amidst this global context, BIST 100’s 42.54% ascent to 10,647.91 points was particularly notable, breaking its own monthly closing records and peaking at an all-time high of 11,088.01 points. The index also saw a 28.4% increase in dollar terms, reaching 325.45 points, the highest monthly close since February 2015.

Banking Sector Leads the Surge with 74% Gain

A closer examination of sectoral indices reveals the banking sector’s exceptional performance, with a staggering 73.56% rise, followed by a 46.34% increase in the holding index. Every sector index yielded positive returns for investors, with banking leading the charge.

Stock-wise, 78 of the BIST 100 constituents gained value, while 22 saw declines. TAV Airports topped the list with a 141.40% increase, Mavi Giyim followed with a 122.94% rise, and Ülker posted a 107.82% gain. Conversely, Qua Granite, Europower Enerji, and Hektaş recorded the largest drops, declining by 41.46%, 36.85%, and 36.42%, respectively.

BIST 100’s stellar performance in the first half of 2024 highlights its resilience and growth potential, establishing it as a dominant force in global financial markets.

Source: Trthaber / Prepared by Irem Yildiz

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