Weekly Investment Performance in Turkiye
This week, Borsa Istanbul stocks, along with gold, US dollar, and euro prices, delivered notable returns for investors. With the BIST 100 Index climbing by 2.22%, the Turkish financial markets demonstrated strong growth, particularly in the stock market and gold sectors.
Borsa Istanbul Rallies with 2.22% Growth
The BIST 100 Index had a productive week, rising from 9,567.10 to a high of 10,008.72 points. By the end of the trading week, the index settled at 9,900.25, marking a 2.22% increase compared to last week’s closing. This steady growth in the stock market provides a solid return for equity investors.
Investors benefited from this uptrend, with particular strength in the following sectors:
- Stock funds emerged as the biggest gainers with a 4.40% increase.
- Other investment funds posted average gains of 1.89%, while retirement funds saw a 2.36% rise in value.
Gold Prices Continue to Climb
Precious metals also performed well this week. The price of 24-carat gold sold at the Grand Bazaar increased by 1.92%, reaching 2,866 lira per gram. Similarly, the Republic Gold coin saw a 3.33% rise, now valued at 19,124 lira.
Additionally, the price of quarter gold grew by 3.23%, reaching 4,800 lira, up from 4,650 lira last week. For investors in gold, this week’s performance highlights the continuing appeal of precious metals as a safe haven during periods of currency fluctuation.
Currency Gains: Dollar and Euro Increase
The Turkish lira faced modest depreciation against major foreign currencies. The US dollar increased by 0.56%, with the exchange rate rising to 34.1150 lira. Meanwhile, the euro saw a larger uptick of 1.17%, climbing to 38.0680 lira.
These currency gains are important for those looking at foreign exchange markets or holding foreign-denominated assets. The depreciation of the Turkish lira makes it more expensive for domestic buyers to purchase foreign currencies, but it benefits investors who have exposure to the US dollar and euro.
Fund Performance: Stock Funds Lead the Way
Among the different categories of investment funds, stock funds were the week’s best performers, offering a substantial return of 4.40%. This positions stock funds as an attractive option for investors looking for higher gains.
Other categories also yielded positive returns:
- Investment funds increased by 1.89% on average.
- Retirement funds grew by 2.36%, offering a stable return for long-term savers.
These trends indicate that the financial markets in Turkiye are providing solid returns for a wide range of investors, from those focusing on stock market gains to those looking for safer investment options like retirement funds.
Key Takeaways for Investors:
- Borsa Istanbul grew by 2.22%, with the BIST 100 Index closing at 9,900.25 points.
- Gold prices rose by 1.92%, while quarter gold saw a significant 3.23% increase.
- The US dollar and euro gained 0.56% and 1.17% respectively, against the Turkish lira.
- Stock funds led the investment categories, offering a return of 4.40% for the week.
Looking Forward:
As the Turkish financial markets continue to adapt to global and local economic factors, the performance of stocks, gold, and currencies will be crucial for investors seeking returns. The consistent upward trend in the Borsa Istanbul Index, coupled with the stability of precious metals, suggests a balanced outlook for the coming weeks.
For those with an eye on global currencies, monitoring the exchange rates of the US dollar and euro will be important as the Turkish lira continues to adjust. With investment funds also showing growth, investors have a range of options to consider, depending on their risk appetite and long-term goals.
Turkiye’s financial markets remain dynamic, and this week’s results underscore the importance of staying informed and flexible in investment strategies.
Source: AA / Prepared by Irem Yildiz