Assad's ouster in Syria impacts the stock market: Those shares soared!

On December 9, 2024, a notable development occurred on Borsa Istanbul. The BIST 100 index rose by 1 percent in the morning hours to reach 10,188 points.

This rise was positively reflected in stocks, particularly in the cement sector, as expectations for Syria's reconstruction process increased.

As eyes turn to the reconstruction process in Syria, it was noted that cement and iron-steel companies on Borsa Istanbul recorded gains.

Shares of cement factories such as Uşak Seramik and Sanko Holding gained 10 percent at the opening. This development increased investor interest in the construction sector.

Among the sector indices, the stone and soil sector was the top gainer, showing an increase of 5.19 percent.

RAPID RISE IN THE CEMENT SECTOR

Shares of Nuh Çimento, OYAK Çimento, ÇİMSA, Limak Doğu Anadolu Çimento, and Çimbeton reached ceiling price levels, while Afyon Çimento gained 8 percent in value.

İSDEMİR SHARES ARE RISING

Shares of İskenderun Demir ve Çelik (İsdemir) also showed a 10 percent increase in the morning hours.

The reduction of geopolitical tensions in Syria continues to have positive effects on the market. While investors are closely following developments in Syria, it is observed that their interest in firms, particularly in the cement and construction sectors, is increasing.

This activity on Borsa Istanbul has led investors to bring the situation in Syria and its economic impacts more to the forefront.