Borsa Istanbul ends the day with a record high due to the Strait of Hormuz effect

The BIST 100 index started the final day of the week with a 0.24 percent increase at 14,235.63 points. Following an upward trend throughout the day, the index experienced a significant surge, especially in the later hours, after the Iranian Foreign Minister announced that the Strait of Hormuz had been opened.

While banking stocks provided the largest contribution to the rise in the stock market, the index completed the day with a 2.72 percent value increase at 14,587.93 points, marking its all-time high close. Furthermore, the weekly gain reached 3.65 percent. The total trading volume reached 287.5 billion liras. During the day, the index saw a low of 14,183.21 and a high of 14,601.12.

BANKING AND HOLDING STOCKS STOOD OUT

Although the banking index spent the first half of the day with losses, it left its mark on the close with a 5.63 percent increase. Holding stocks gained 3.53 percent, and the industrial index gained 1.31 percent. While banking was the sector that rose the most, chemical stocks were the biggest losers with a 2.05 percent decline.

Within the BIST 100 index, the stocks that rose the most were recorded as EFOR and KLRHO with 10 percent. The stock that fell the most was TUPRS with a 5.60 percent loss. The stocks with the highest trading volume were listed as Turkish Airlines (THYAO), Sasa Polyester (SASA), and Yapı Kredi Bankası (YKBNK).

The BIST 100 index, which had experienced a decline on the previous trading day, had fallen by 0.36 percent to 14,201.05 points.

OPTIMISM INCREASES IN GLOBAL MARKETS WHILE ENERGY PRICES DECLINE

At the beginning of the week, expectations that a compromise could be possible in US-Iran relations remained weak, but with the announcement regarding the Strait of Hormuz, there was a sharp drop in oil prices. This development led to a decline in the dollar, while increases were observed in gold and silver. Upward movements also gained strength in world stock markets.

According to the Central Bank of the Republic of Turkey's April Market Participants Survey, the year-end Consumer Price Index increase expectation rose from 25.38 percent to 27.53 percent.

Next week, the markets will focus on the interest rate decision of the Central Bank of the Republic of Turkey to be announced on Wednesday. While experts do not expect a change in interest rates, the markets will be closed on Thursday for the April 23 National Sovereignty and Children's Day. Abroad, the primary agenda will be PMI data.