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Borsa Istanbul Index Records Fresh Record High

TURKEY

The Borsa Istanbul stock index exceeded the 8500 level for the first time earlier today, though closed slightly below that level at 8486 – recording gains of 1.82% on the day. YTD gains stand at ~77%. The banking index ended Monday’s session up 2.20% and at an all-time high, but fell just shy of the 9000 level.

  • Looking ahead domestically, September inflation data is the next risk event for the local stock market tomorrow morning. According to the median estimate of the Bloomberg survey, the headline figure will rise to 61.60% y/y from +58.94% y/y in August. Core CPI is seen rising to +67.20% y/y (Prior: +64.85%) while the monthly figure is seen recording a +4.78% increase (Prior: +9.09%).

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