Market activity following dismissal of CHP convention lawsuit

The Borsa İstanbul BIST 100 index gained over 4 percent following the dismissal of the lawsuit seeking the cancellation of the CHP convention. A decline was also observed in the Dollar and Euro.

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Market activity following dismissal of CHP convention lawsuit

The Borsa İstanbul BIST 100 index recorded a sharp rise following the dismissal of the lawsuit filed to cancel the CHP's 38th Ordinary Convention. The index, which started the day at 10,699 points, gained over 4 percent to reach the 11,134-point level.

DECISION FROM ANKARA ON CHP CONVENTION CANCELLATION LAWSUIT

The Ankara 42nd Civil Court of First Instance reached a verdict on the lawsuit filed by former Hatay Metropolitan Municipality Mayor Lütfü Savaş to cancel the CHP's 38th Ordinary Convention. The court decided to dismiss the case on the grounds of lack of active standing and that the subject of the lawsuit had become moot.

BANKING INDEX SURPASSED 3 PERCENT

Following the dismissal of the CHP convention cancellation lawsuit, the banking index rose from 14,079 points to 14,512 points, gaining over 3 percent. The increase in bank stocks contributed to the rise across the stock market.

DOLLAR AND EURO EXCHANGE RATES SHOWED A DECLINE

The Dollar/TL exchange rate, which started the day at 42.05 TL, fell to 41.98 TL. The Euro/TL fell from 48.85 to 48.78 TL. This decline in foreign exchange rates drew attention in parallel with the rise in Borsa İstanbul.

News Source: 12punto